Crony Capitalism in America: 2008-2012

Crony Capitalism in America: 2008-2012

Hunter Lewis

We see it everywhere:
• shady zoning laws in a small town;
• taxpayer cash diverted into political campaigns;
• offers that increase the few on the fee of the many;
• billion-dollar bailouts;
• trillions of newly revealed funds flowing from govt to Wall highway at giveaway rates of interest;
• brand-name economists employed to guard the indefensible with a smokescreen of monetary theory.

When inner most pursuits want a political desire, they comprehend whom to name. whilst politicians want funds, additionally they be aware of whom to name. the folk concerned attempt to continue such a lot of it hid at the back of closed doors.

This is the method that prevails in Russia after the autumn of Communism. yet more and more it's America's procedure as well.

Many humans regard Wall road because the epicenter of yankee capitalism. actually it's the epicenter of yankee crony capitalism. the place Wall highway stops and Washington starts is most unlikely to claim. this example used to be now not prompted, as many believe, by means of the Crash of 2008. fairly the Crash was once because of the longstanding Wall Street–Washington partnership. however the challenge extends a long way past Wall highway to each nook of America.

If we'll do something approximately our current financial difficulties, and in addition supply the terrible an opportunity at a greater existence, we are going to have to get rid of crony capitalism.

Although jam-packed with hair-raising tales, this publication can also be approximately suggestions. It tells us in transparent and straightforward phrases what's wrong and what has to be performed approximately it.

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