Corporate Lobby To Blame For Economic Mess: Steven Pearlstein

Washington Post:

The economy is flatlining. Global financial markets are in turmoil. Your stock price is down about 15 percent in three weeks. Your customers have lost all confidence in the economy. Your employees, at least the American ones, are cynical and demoralized. Your government is paralyzed.

Read the whole story: Washington Post

Comments

[elamatt]

01:04 PM on 08/16/2011

Please, Please take the time to read the whole scathing article. It's the best thought-out reply to the Wall Street "goons" I've seen in a looonnngg time. There aren't enought *^3#@!!$ characters on the keyboard to express my disgust at the pure GREED of these rats.

[hornedcog]

08:48 AM on 08/16/2011

Lobbyists' are all that is left of our manufacturing base. They have eliminated the costs associated with Equine labor and shovel the end product directly through our legislators.

[Carl Caroli]

08:29 AM on 08/16/2011

Succinctly put and quite accurate on every point. Mega corporations are the bane of our society. Efficiency is a lovely word that every economist bows down too, yet it eliminates jobs. And consolidates power which is clearly being grossly wielded in Washington. We need to treat small companies with all it's employees and money here in the U.S., better than the mega corps we've allowed to grow, hide money overseas and take advantage of cheap foreign labor , land, air and water. We have to shame them into giving back to the nation that made them what they are. And if they don't respond we need to eliminate their tax breaks and force them to pay taxes on their foreign holdings. We can not let them hold the economy over our heads.

[racetoinfinity]

06:10 AM on 08/16/2011

Bravo! Great column from Steven Pearlstein! Read the whole thing.

[loki]

11:11 PM on 08/15/2011

corporate lobbyist responsible. ?? not all of it, but for 99.9% of it yes. And yet we suck up to these corporations and treat them like gods.

[rikster]

09:02 PM on 08/15/2011

does the electorate vote for Lobbyists...or they vote for the Lobbyists representatives..then who represents the electorate..?

[loki]

11:13 PM on 08/15/2011

like Freedoms, laws, and everything else in America has become since at least the Reagan era, Wealth = representation. No real wealth, you dont matter. The more wealth you have, the more you matter. Doesnt matter how you got it, just as long as you have a lot of it.

That my friend, is the Neo American Way.

[elamatt]

01:05 PM on 08/16/2011

Truly frightening isn't it?!

[StevieRae]

08:07 PM on 08/15/2011

251 posters/readers. No wonder we're in trouble. Pearlstein's column not "sexy" enough. Should be page 1!

[elamatt]

01:06 PM on 08/16/2011

Amen!!!

[zelduh]

06:27 PM on 08/15/2011

I do not blame the corporate lobbyists as much as I blame the men and women in Congress who are glad-handing these sIeaz ebags for their campaign (and other) money.

[sfwomanvoter]

04:58 PM on 08/15/2011

This is a great article. It is refreshing to see someone finally lay blame with these corporate executives who seem content to sit back while the country goes up in flames. I don't believe that all companies and executives are cut from the same cloth, so maybe it is time for the responsible ones to stand up for what is right.

[Giverny]

05:08 PM on 08/15/2011

True but is anyone listening to them? Or Warren Buffet?
http://patrioticmillionaires.org/

[loki]

11:14 PM on 08/15/2011

warren and others are only saying these things because they know it will never happen. Its PR.

[Hunter3203]

04:45 PM on 08/15/2011

Mr Pealstein had one thing right. Do you want to know who to blame for the economic crisis? Look in the mirror. That's right. We are to blame.

David Gregory had a segment a few weeks ago where he delineated what the American people tell their politicians. By 2/3 majorities we want to lower taxes and simultaneously increase spending. During the housing bubble, ordinary Americans decided they should speculate on real estate and many got burned. The same thing happened during the Tech bubble(everybody wanted to get in on the next big thing).

Rarely do we as individuals take responsibility for our own decisions which turn out badly. As a culture, we are far too quick to blame others for outcomes we brought about.

America, it's time to wake up and get back in the game. This is still the greatest nation on earth. Don't believe it, who wants to move to China? The Chinese would rather come here.

[catbyte]

04:44 PM on 08/15/2011

I'm listening to "Low Spark of High Heeled Boys" by Traffic, and that song's over 40 years old but the lyrics haven't aged a day. If any young'uns out there don't know it, check it out on YouTube.

[MyDawg1967]

03:40 PM on 08/15/2011

The GOP placed blame on the poor, over paid teachers, unions, everyone except the real culprits. Their corporate buddies.

[joeisright]

04:42 PM on 08/15/2011

It is the fault of both sides, who are unwilling to prune back their own pet sectors.

The Republicans need to acknowledge that immense cuts to the MIC are needed, while Democrats need to acknowledge that abuse of social programs is rampant and needs to be addressed.

We would all be better off if they would stop focusing on assigning blame and begin focusing on developing workable solutions.

[Giverny]

05:03 PM on 08/15/2011

Yes, abuse of the entitlements do need to be addressed. The lack of taxing in the millionaire and above sector needs to be addressed. Loopholes like the 15% tax on capital gains, and jet/yacht, leisure home, depreciation. Bush tax cuts.To speak of a few. Yes, lets get real.

[Giverny]

05:04 PM on 08/15/2011

Businesses like GE not paying any tax. Or setting aside R&D funds.

[feuille0d0erable]

03:38 PM on 08/15/2011

Creeping Corporatism has got us all by the n*ts.

[intotheabyss]

03:37 PM on 08/15/2011

The truth at last! Awesome article.

[WriterGirl]

03:25 PM on 08/15/2011

I very much appreciated this article. It starkly illustrates that fundamentalism in capitalist ideology is the problem, not the answer.