TBTF and Captured Govt: It’s a BiPartisan Issue

From Washington’s Blog:

[A]  Rassmussen poll conducted in February found:

70% [of all voters] believe that the government and big business typically work together in ways that hurt consumers and investors.

(and see this and this).

Remember that the government helped and encouraged the giant banks to get even bigger, and then has hidden their insolvency and shielded them from the free market, and helped them grow even during the severe downturn.

In return, the big banks and giant corporations have literally bought and paid for the politicians.

Conservatives might call it “socialism” and liberals might call it “fascism” – they are the same thing economically.

But all Americans – conservatives and liberals alike – can agree that it is not capitalism, and it is not American.

As just one example, the list of prominent economists and financial experts calling for the too big to fails to be broken up is wholly bipartisan:

  • Dean and professor of finance and economics at Columbia Business School, and chairman of the Council of Economic Advisers under President George W. Bush, R. Glenn Hubbard
  • The leading monetary economist and co-author with Milton Friedman of the leading treatise on the Great Depression, Anna Schwartz
  • Economics professor and senior regulator during the S & L crisis, William K. Black
  • Professor of entrepreneurship and finance at the Chicago Booth School of Business, Luigi Zingales
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