Monday, April 25, 2011

"“Crony Capitalism” Has Killed the Free Market and Democracy"

By Peter Gorenstein

"What now exists at the heart of the U.S. economy, Stockman argues, is "crony capitalism" - a system that benefits and even rigs the system in favor of America's banks and bankers at the cost of average Americans. It's a system built on the back of government-issued bailouts and free money. "The Fed is the great enabler" through its free money policies, which "generate results the market wouldn't otherwise provide for."

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