Moyers & Company: David Stockman on Crony Capitalism (Enhanced DVD)
In 2008 a financial crisis that reverberated around the world was found to have its roots in the American financial sector. Vowing to get tough on Wall St. many politicians had harsh words for the corporate entities and executives at the heart of the collapse, yet very little has since been done to regulate . Some believe this is because corporations in America are able to lobby for their own interests and, indirectly, pay their way out of trouble.
Iconic American tele-journalist Bill Moyers leads the conversation around crony capitalism - the domination of money and corporate influences in U.S. politics - in this edition of Moyers and Company. Joining him are Pulitzer Prize-winning columnist Gretchen Morgenson,who has reported extensively on the topic, and David Stockman, who literally wrote the book on the subject (The Triumph of Crony Capitalism). Together they expand on examples of the phenomenon in modern politics, from the lack of regulatory action following the Great Recession, to President Obama's relationship with, and appointment of, high profile corporate leaders to important political posts.
Whatever the viewer's belief about the role of money in politics, this program successfully expands upon the subject with expert insight and an intriguing discussion that challenges the very foundation of the country's democratic system.
Moyers & Company: David Stockman on Crony Capitalism