Look: I am eager to learn stuff I don't know--which requires actively courting and posting smart disagreement.

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-- Brad Delong

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Tuesday, January 24, 2012

Stockman on Crony Capitalism

Holy socialization of losses, Batman.  I had no idea I was channeling David Stockman when I wrote this post.  Thing is, Stockman is an unreformed free-market Reaganite supply-sider.  But not quite the free market guy I imagined him to be, as it turns out - a least as it regards Glass-Steagall and derivatives regulation.  He's all about a certain kind of creative destruction, though, that I find myself applauding.

Notable quote:  "If it's to big to fail, it's too big to exist."

I listened to this with an ear toward finding something I would disagree with.  The most I can come up with is his cry for "free market capitalism," past the the 30 minute mark.  Amazingly, at the end, he even channels Bernie SandersI'll never be a Stockman fan, though.  

What's striking is that when someone as far to the right as he is lines up on the same side of an issue as I do, it shows just how far out of bounds things have gone. 

David Stockman on Crony Capitalism from BillMoyers.com on Vimeo.

Huge H/T to Daniel Becker in comments at AB.

1 comment:

BadTux said...

Stockman quit the Reagan Administration out of disgust over the huge deficits Reagan was running, so he's never been afraid to criticize Republicans that he thinks are wrong. He's a Conservative with a capital-C, sort of like Pat Buchanan without the swastikas. There's nothing conservative about corporate socialism, and as with Pat, this is what I expect to hear from Stockman. Doesn't mean I'd want him to be my next Congressman or, god forbid, President, though...

-- Badtux the Unsurprised Penguin