Some, however, argue that the economy is more like fascism than socialism. For example, leading journalist Robert Scheerwrites:
What is proposed is not the nationalization of private corporations but rather a corporate takeover of government. The marriage of highly concentrated corporate power with an authoritarian state that services the politico-economic elite at the expense of the people is more accurately referred to as "financial fascism" [than socialism]. After all, even Hitler never nationalized the Mercedes-Benz company but rather entered into a very profitable partnership with the current car company's corporate ancestor, which made out quite well until Hitler's bubble burst.
Is Scheer right?
I don't know. But Italian historian Gaetano Salveminiarguedin 1936 that fascism makes taxpayers responsible to private enterprise, because "the State pays for the blunders of private enterprise...Profit is private and individual. Loss is public and social" (page 416).
This perfectly mirrors Roubini's statement about the American government's bailout plan.