jessescrossroadscafe.blogspot.com / By Jesse / February 5, 2013
“Corruption is a tree, whose branches are
of an immeasurable length: they spread
Everywhere; and the dew that drops from thence
Hath infected some chairs and stools of authority.”
Beaumont and Fletcher, The Honest Man’s Fortune
Michael Lewis has written an excellent pocket analysis of the financial crisis in The New Republic, in his review of Greg Smith’s book about why he left Goldman Sachs. I have to admit some prejudice, because he says all of the things which I have been saying, and says them very well.
Crony capitalism has always been with us, but it took wing in the 1990′s, and has brought us to this place where we would not wish to be.
Michael Lewis does an excellent job of distilling the problem and its solution to the basics, without necessarily touching on the need to reform the political campaign process, and the revolving door that enriches the politicians and regulators through betraying the spirit, if not the technical word, of their oaths of office.