Former Reagan-era budget director David Stockman is under attack by pundits everywhere for confirming that money for Wall Street and nothing for Main Street stands as an upper-class attack on the American public.
Is the United States on a course toward crony capitalism? Italian-American economist Luigi Zingales and NPR examine similarities between the politics and economics of Italy under Silvio Berlusconi and of the U.S.
Without skipping a beat, once-troubled financial entities are continuing to spend big to lobby Congress as they pocket billions in TARP bailout money. The lobbying is defended by the bail-outted firms as a “transparent and effective way” to be heard on policy issues.
The most explicit anti-capitalist analysis of the U.S.‘s proposed bailout of major finance firms is not domestic, but rather international. A cadre of left-leaning leaders in Latin America is ramping up criticism of Bush’s crony capitalism, arguing that the U.S. economic crisis was caused by the driving logic of American imperialism: fast money at the expense of the poor.