There are left-wing extremists who truly don't believe in the concept of a market-place. That means they either don't trust or respect the idea of millions of individuals making decisions in their own self-interest, which if generally left alone will bring prosperity to all of us. It has been proven time and time again.
There are right-wing extremists who truly don't believe in the concept of the government regulating a free market's excess. Instead, they attribute an undeserved virtue to a free market that is even more dangerous than the extreme on the Left.
The danger from the left is the encroachment of too much government, too much central planning, and less economic prosperity.
The danger from the right can be anarchy and totally destruction of a way of life. This is because if left alone natural (negative) human tendencies of greed, fraud, and fear can creep in and cause mass panic.
Right now we are experiencing the result of too lax regulation of the financial markets. We had political people in the administration trying to prod the market toward popular outcomes such as offering more credit to lower income people, and increased economic activity throughout, without looking at the long term consequences.
Ultimately that is the job of government, to take into account ramifications not readily known or pertinent in the short term and to make rules that protect our system itself.
The problem is not risk itself or the resultant failures that often occur in a free market. It is the uncertainty, the secrecy, and the surprise of financial giants falling in such a short time.
This breeds cynicism and panic.
We need the government to ensure an orderly market place where people who make good decisions are rewarded, and the others are punished.
But when that happens, we can't complain about that too.
making the word "liberal" safe again!