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David Stockman

Blog Entries by David Stockman

Days of Crony Capitalist Plunder

(74) Comments | Posted April 8, 2013 | 5:16 PM

The Arrogance of Wall Street: Crony Capitalism, John Mack Style

The urgent imperative for the Fed to revert to canons of sound money can be illustrated by its opposite: the utterly shameful and gratuitous bailout of Morgan Stanley two weeks after the Lehman Brothers bankruptcy. On September 29, 2008,...

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Why We Should Have Gone Over the Fiscal Cliff

(36) Comments | Posted April 2, 2013 | 11:02 AM

The "fiscal cliff" gong show which traumatized the nation at the end of 2012 was rooted in a destructive symbiosis between Wall Street and Washington. It was portrayed by the mainstream media as an impetuous display of partisan strife, petty politics, and willful stubbornness, especially among Tea Party Republicans. But...

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