Stockman explains how the courtship of politics and high finance rewards the super-rich and corporations.
(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.
Video Rating: 4 / 5
What is crony capitalism?
Video Rating: 4 / 5
mr.stockman talks about what’s best for society instead of corporations.
Wow ,a republican with a soul.
Play close attention ladies and gentlemen, David Stockman is the last of an
already extinct species; “Republicans with commonsense.”
He’s one of many who are pariahs to the new wingnut tepublican party. Watch
Eisenhower’s presidential farewell address and know he’d be immediately
drummed out of todays R’s. It amazes me that so many regular people let
themelves be manipulated to carry water for the wealthy ruling class. Not
that Obama and the DNC have all our best interests in mind either. Once
again this is an election to vote against rather than so much vote for – if
she had a chance I’d vote for the Green Party lady.
David clearly descibes the issues and greed in our current casino financial
system RIGGED towards the corrupt banks. Our elected leaders are too
impotent to stop it now even if they wanted to, as David points out. It has
suddenly become a “perfect financial/political/greed power storm” which can
only end with a sudden collapse since our lame duck leaders are apparently
completely unable to use their elected powers to prevent it.
Crony capitalism is just capitalism, dumbass.
Oh shit the republicans have a new catch phrase. Capitalism is bullshit no
matter how you stack it. I notice that all these rich dudes keep saying oh
its not me its the other dude in the other party. The rights newest attempt
to keep the people in the dark and go on killing all the poor while they
live it up in luxary. Saw Sarah Palin and Shaun Hannity bs ing on this
today. I seen both there houses and believe me they are just as crony as
the rest of the rich.
i don’t know if the stephen hawking voice effect was on purpose but it’s
fucking retardedly bugging the crap out of me
Two words: Jack.Abramoff
…or more like crony-corporatism…collusion between legislators,
corporations, and a secretive central bank to pay for the losses incurred
by a reckless financial industry. The power wielded by those in control of
FED policy is enough to significantly influence the decision-making of
establishment politicians from both major parties. It’s no coincidence that
the two remaining establishment presidential candidates share a #1
contributor. Ron Paul 2012
Another Libertarian thinking the Freemarket will fix everything, will how
is that working out in China were people can’t even afford a bag of rice on
their 2¢ an hour wage…!
Sounds more like crony SOCIALISM to me.