Were financed mainly by the Federal Reserve who are able to collect the 6% profit after expenses on their paid in Reserves. Congress promised to bail them out when their profits didn't materialize.
Any loses were expenses.
The US government all but killed the free market in 1913 and has been strangling what was left for the last 100 years.
When Japan and Germany failed to repay their 20 year note, the US Government picked up the tab (as national debt) and sent the US Military in the reposes the gold and destroy any potential competition.
The Federalist, then the Whig then the Republican party have always saw he free market as something to loot for their public works projects.
The Regressive Era created dozens of government sanctioned cartels and institutionalized crony capitalism according to Marx's 10 planks for a tyrannical government deserving of violent revolution.
Truly free markets in American history have been rare and mostly accidental.
Free includes debt-free!