Moyers & Company

Season 1 Episode 2

Moyers & Company: Crony Capitalism

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Aired Unknown Jan 22, 2012 on
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Moyers & Company: Crony Capitalism
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Crony Capitalism: For years, high-ranking administration officials have spun through the revolving door between the White House and American big business. But how have they influenced the regulation of industries from which they came -- and American democracy as a result? Moyers & Company explores the tight connection between Wall Street and the White House with David Stockman, former budget director for President Reagan. Currently a businessman who says he was "taken to the woodshed" for telling the truth about the administration's tax policies, Stockman speaks candidly with Bill Moyers about how money dominates politics, distorting free markets and endangering democracy. "As a result," Stockman says, "we have neither capitalism nor democracy. We have crony capitalism." Stockman shares details on how the courtship of politics and high finance have turned our economy into a private club that rewards the super-rich and corporations, leaving average Americans wondering how it could happen and who's really in charge. Also on the show, Moyers talks with Pulitzer Prize-winning New York Times reporter and columnist Gretchen Morgenson on how money and political clout enable industries to escape regulation and enrich executives at the top.moreless
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