Dylan Ratigan With David Stockman On Romney, Gingrich And Crony Capitalism: "How To Make A Billion Dollars, The Easy Way" (Video & Transcript)
Video - Ratigan with David Stockman - Jan. 23, 2012
- Stockman: "So when you look at the record, $100 million in and — $2 billion out. One was an Italian Job, one was an inside job, and five were a screw job. And that’s how you make a billion dollars."
Former Ronald Reagan OMB director David Stockman explains how both Mitt Romney and Newt Gingrich are incredible offenders and beneficiaries of corporate communism or, as he likes to call it, “crony capitalism.” He specifically laid out the atrocious track record that is displayed by Mitt Romney and Bain Capital’s ability to make hundreds of millions of dollars on leveraged buyouts (just to name one illustrative example: buying and selling the Yellow Pages from the Italian government.)
The most important thing about the Stockman indictment of Romney and Gingrich is that it also speaks to the Obama administration’s similar characteristics, through the lens of Geithner and Summers. He points specifically to the failure to reform our banking system, and the massive expansion in too big to fail financial institutions since the financial crisis as the single greatest risk to the Western economy, as well as the greatest cause of distorted incomes, poverty, and unemployment.
Stockman proves that it’s not about the identity of the politicians, it’s about understanding the distinction between aligned interests between investors, entrepreneurs and inventors working together to solve problems — this in contrast with the misaligned interests, crony capitalists and corporate communists who use use access to power to extract money for themselves at the expense of our nation and the world as a whole.
Full transcript is inside.
Feb 1, 2012 at 12:17 PM
