Big Government continues to grow...

The U.S. government is set to take an even bigger role in our economy and there is nothing we can do about it:

To kick off Tuesday's expected announcement, the government is set to buy preferred equity stakes in Goldman Sachs Group Inc., Morgan Stanley, J.P. Morgan Chase & Co., Bank of America Corp. -- including the soon-to-be acquired Merrill Lynch -- Citigroup Inc., Wells Fargo & Co., Bank of New York Mellon and State Street Corp., according to people familiar with the matter.

Some of the big banks were unhappy about the government taking equity stakes, but acquiesced under pressure from Treasury Secretary Henry Paulson in a meeting Monday. During the financial crisis, the government has steadily increased its involvement in financial markets, culminating with a move that rivals the breadth of the government's response to the Great Depression. It intertwines the banking sector with the federal government for years to come and gives taxpayers a direct stake in the future of American finance, including any possible losses.

The popular meme these days is that the free-market failed and that the events that have unfolded over the last several weeks is proof that capitalism is flawed, imperfect, and subject to the weakness of greed. And besides, socialism isn’t a bad word. Such is the trance of the general public that has been bludgeoned with high gasoline prices and higher consumer prices. There is a scramble for answers in the dark and we are getting easy answers with no real depth or foresight of unintentional consequences. The power of government grows and it will never be satisfied; More of our tax dollars to be steered by political appointees with little choice by us. Aside from the institutional bankers, is anyone happy about all of this?