Democratic Capitalism-Free Market and Free Fall

It seems abundantly clear that the free markets can not operate effectively without government regulation. Greed is the operative word in free markets and the free marketeers will optimize profits even if its at the expense of the demise of the entire system. That was clear in J.P Morgan's time and it is clear now. In 1907 J.P. Morgan was required to round up the private capital to bail out the failing banking system. After 1929 the government began to play a strong role in regulating markets. However, in the post Reagan era everyone forgot what is required for the system to work. Now we are re learning the lesson with around $7oo billion dollars in government financed bailouts. Ye the Republican free marketeers in the House continue to worship at the altar of the invisible god of the free market. Despite the failure of the free market to operate effectively without regulation, they are still loathe to vote for their own President's backed bail out. Throw more virgins into the volcano in the belief that it will stop the eruption. In this case the preliminary vote rejecting the bailout in the House has cost 600 points on the Dow. Let the Republican true believers beward. No one knows where the bottom is if they don't vote this bill out of the House.