US more communist than China...

The US market rebounded aggressively on Friday because of investors confidence on the bailout by the US Fed on Fannie Mae and Freddie Mac, which star investor Jim Rogers describes as a decision "more communist than China right now... read more at Roger on CNBC.

Here is an excerpt from an interview with Jim Rogers from CNBC;

The nationalization of Fannie Mae and Freddie Mac shows that the U.S. is "more communist than China right now" but its brand of socialism is meant only for the rich, investor Jim Rogers, CEO of Rogers Holdings, told CNBC Europe on Monday.

"America is more communist than China is right now. You can see that this is welfare of the rich, it is socialism for the rich… it's just bailing out financial institutions," Rogers said.

Investor extraordinaire Warren Buffet however, said otherwise. He said that the Fed "Did exactly the right thing".

From CNBC,

In stepping in to bail out and recapitalize collapsing home mortgage giants Fannie Mae and Freddie Mac, Treasury Secretary Hank Paulson "did exactly the right thing," said billionaire investor Warren Buffett.

"I wouldn't change anything in the plan myself," Buffett said in an interview on CNBC. He said he expects this step will go a long way in calming the market and resolving the ambiguity surrounding the two companies.

Read more here.