Moyers & Company Show 102: On Crony Capitalism from BillMoyers.com on Vimeo.
Wednesday, January 25, 2012
The Devolution of Capitalism
David Stockman's days with Ronald Reagan - and his ringside seat since then, gives him the street cred to comment on what went wrong. From the Mexican Peso crisis, to LTCM, to the GFC of 2007, Stockman sits down with Bill Moyers to talk about what's wrong with America. A former Congressman from Illinois, Stockman served as the Director of the OMB (Office of Management and Budget - the President's chief advisor for the White House) for Ronald Reagan in 1981, when the deficit was less than $1T. When he left, four years later, the national debt was just over $2T. Stockman left the Reagan administration after he was criticised for his comments in an Atlantic Monthly article. His book: The Triumph of Politics: Why the Reagan Revolution Failed (ISBN 0060155604)was critical of his time in the White House.
His lengthy interview with Bill Moyers is a serious critique of the Obama Administration. He credits Obama's about face after the election with providing him the impetus to work begin a new book: The Triumph of Crony Capitalism.
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1 comment:
In these books, while I am confident that there is a lot of truth in them, and a lot of things that should make one go "hmm" and look to changes, I feel there is often more a point of contention that led to the writing of the book and that things are brought out that are probably not true, or horridly exaggerated.
Don
http://exposeyourblog.com
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