As the stock markets in China continue to decline, the Securities Association of China, the largest government-backed brokerage firm, offered rhetoric that blends ideas of the free market with a common struggle for development:

Excessively rapid rises and falls in the stock market are not conducive to the stable and healthy development of the market…and as major players in this market, securities companies must take the initiative to shoulder responsibility, to unify as one, merge our wills and safeguard market stability with all our strength.

The real tragedy, as the New York Times reports, falls on the individuals who, taking up the common struggle for financial capitalism (i.e., people listened to the state-run media that encouraged people to buy more stocks), saw their savings vanish:

Share prices have fallen nearly a third since June 12, erasing more than $2 trillion of value and inflicting immediate hardship on millions of families who not only invested their savings but also borrowed heavily at steep interest rates to buy more shares.

For more on the wild-West (or East) of financial capitalism, read these 10 facts about the Chinese stock market.