The thing is, many people do seem to equate capitalism with democracy, representative or otherwise (see: corporate personhood, Reagan's "the business of the American government is business"). Our constitution says nothing of people's right to make billions of dollars or the right to defraud people for profit. It says nothing of shareholder's returns or of a CEO's "right" to run a company into the ground, cause thousands of people to lose their jobs and insurance and all the while collect a one-hundred million dollar paycheck and then ask for a bailout when the jig is finally up. There are recourses, however, written in to the constitution; that is, until they are legislated out by politicians who are in the pocket of these companies (giving immunity, special deals). And it's all done via the American democratic process.
It is correct to say that capitalism is neither moral or immoral. It is a system, plain and simple. It's all in how we use it, who uses it and to what ends. The practicing of capitalism in an immoral fashion is likely not what Adam Smith had in mind but, over time, it seems that it has become something of a game for some: how much money can I make, damn the consequences. And there is the rub: too many powerful people (a very, very small number of people with the ability to have an enormous impact) have taken capitalism to mean, "I do whatever I want."
Of course, our government has the power and responsibility to regulate these systems to a reasonable level but reasonable means so many different things. Your Libertarians (and many conservatives) say any regulation is too much but, as should be obvious to non-sociopaths, can plainly see that "the market" is really not all that great at regulating itself, at least not without considerable pain being inflicted (and who is most affected by that?). Some liberal's get out of control and take regulation too far.
It should be obvious at this point, though, that the more sophisticated our financial and banking system's become, the less and less the "free market" is actually free. Conservatives get incensed at the thought of the government interfering but without someone minding the shop, the corporations are, in essence, regulating themselves and that turns out to be like the prisoners running the prison. Is there no happy medium?