Crony Capitalism January 20, 2012 This weekend, continuing its sharp multi-episode focus on the intersection of money and politics, Moyers & Company explores the tight connection between Wall Street and the White House with David Stockman – yes, that David Stockman — former budget director for President Reagan.
Now a businessman who says he was “taken to the woodshed” for telling the truth about the administration’s tax policies, Stockman speaks candidly with Bill Moyers about how money dominates politics, distorting free markets and endangering democracy. “As a result,” Stockman says, “we have neither capitalism nor democracy. We have crony capitalism.”
Stockman shares details on how the courtship of politics and high finance have turned our economy into a private club that rewards the super-rich and corporations, leaving average Americans wondering how it could happen and who’s really in charge.
“We now have an entitled class of Wall Street financiers and of corporate CEOs who believe the government is there to do… whatever it takes in order to keep the game going and their stock price moving upward,” Stockman tells Moyers.
Also on the show, Moyers talks with Pulitzer Prize-winning New York Times reporter and columnist Gretchen Morgenson on how money and political clout enable industries to escape regulation and enrich executives at the top.
My gut feeling is that Obama isn't saying NO to the idea because of his overwhelming passion for the enviroment. Methinks he might be beholding to a different source of oil.
If you all never hear from me again, you'll know that I was correct. lol
Posts: 6891 | Location: Normal Norman, Oklahoma | Registered: April 23, 2007
I have a feeling the pipeline will eventually be built. Too many powerful people are set to profit from it.
I suspect President Obama feels the best he can do is use it as a bargaining tool. The power brockers will likely be willing to back off some of their obstruction of things that will benefit average Americans if they are allowed to build this pipeline and reap the profits.
It's much the way things are done.
Posts: 10180 | Location: It's what people know about themselves inside that makes them afraid," | Registered: September 08, 2006
Not sure what you mean, poppy. I think we've seen improvement. But, of course there is always room for more.
The economy is still bad. But, it's slowly getting better. Even Romney admits that.
Foreign policies are better. Wars are winding down. President Obama has demonstrated that you don't have to spend billions and lose thousands of lives to deal effectively with the likes of OBL.
Health care is becoming accessable to many more Americans than was the case before.
We have a long way to go to get the nation back in ship shap. But, we're more rationally focused now than we have been in years.
Had we continued on as we were going under the previous administration, I hardly see how anything would be better in any way.
Posts: 10180 | Location: It's what people know about themselves inside that makes them afraid," | Registered: September 08, 2006
Originally posted by podunk: Not sure what you mean, poppy. I think we've seen improvement. But, of course there is always room for more. Improvement? Lower wages; underemployment; children leave home at age 26; Declining home ownership; 45% increase in food stamp recipients; record numbers falling out of statistics because they have not found jobs and quit looking even sfter unemployment runs out...etc...
The economy is still bad. But, it's slowly getting better. Even Romney admits that. Big Romney fan are you?
Foreign policies are better. Wars are winding down. President Obama has demonstrated that you don't have to spend billions and lose thousands of lives to deal effectively with the likes of OBL. What? Better foreign policies? Like allowing N Korea and Iran the time to develope the bomb and ICBM capabilities, while openly criticising Israel for planning a self defensive strike against Iran, who openly admits that they will destroy Israel as soon as they have this capability? Wars are winding down? Under Obama, we engaged in an additional war against Libya. We are now at the cusp of all out war in the Persian Gulf. Civil wars are now occuring in Syria, Libya and Egypt! Then you have the nerve to say that Obama has saved us 'billions' (after spending trillions), just because our military finally located OBL after years of searching? It's not like Obama said ok we are finished searching for OBL, we knew where he was all along, so lets get him and save money! Obama had nothing to do with the timing of getting OBL for heavens sake!
Health care is becoming accessable to many more Americans than was the case before.Blatantly false! Health care is more costly, and many people were booted from existing private health care because of Obamacare! My parents included! Obamacare is the most unpopular policy of his administration. There is no questio from anyone from either side of the aisle that it was poorly enacted, and even Obama has said that it was done too quickly!
We have a long way to go to get the nation back in ship shap. But, we're more rationally focused now than we have been in years. Rationally focused? WE are on a rudderless ship slowing taking on water while our dear leader is partying around the world with his family while millions suffer the worst economy since the great depression!
Had we continued on as we were going under the previous administration, I hardly see how anything would be better in any way.
The previous administration built a strong economy in the aftermath of the Clinton recession and 9-11. The economy began to tank with the election of Pelosi and Reid's Democrat leadership in congress, and the Democrat full scale attack on regulators who warned of the insolvency of Fanny and Freddy...
Wow! Until Obama worshipers come to the reality that he is not the second coming of Christ, and that he was grossly unqualified to lead the country, we are doomed to what Bernanke said would be high unemployment for years to come...and that is a gross understatement!
Posts: 9162 | Location: houston; PA | Registered: May 18, 2006
...not to mention that the enormous debt that Obama is racking up for our country, that even our great grandchildren will be trying to clean up. He has guaranteed that our children will not have the standard of living that their parents had. What do we have to show for it? Obamas friends and supporters made out big time from money stolen from us taxpayers. Jobs 'created' by stimulus, ended up costing millions of dollars per job. Lessons are to be learned, but I doubt that many will accept them because of party loyalty.
Posts: 9162 | Location: houston; PA | Registered: May 18, 2006
Originally posted by podunk: In the N.T. all those words in red are words of truth, Kenny. But, printing yours in red dosen't make them more true or less drivel.
Maybe they do not reflect what you wish to be true, but they cannot be denied honestly. Noone in their right mind can say that we are in any way in better shape with Obama and his policies. The truth is in the pudding...and red ink...and I am not just referring to mine!
Posts: 9162 | Location: houston; PA | Registered: May 18, 2006
It's still a long time till November and lots of things could happen between now and then. But, If things continue to improve, even if slowly, I don't think people are gonna through President Obama out in favor of Caymen Island Mitt.
