David Stockman comments on Mitt Romney’s version of capitalism

| January 23, 2012 | Reply

Appearing on Dylan Ratigan’s show today, David Stockman, an ardent traditional capitalist, criticized the leveraged buyouts engaged in by Mitt Romney at Bain, labeling this behavior speculation, crony capitalism and “an inside job.” Stockman served as Director of the OMB. during Ronald Reagan’s Administrations.

Stockman hammered Obama as well, based on Obama’s acquiescence toward out-of-control Wall Street banks. He points out that the elephant in the room is the Federal Reserve, which is churning out endless money, thus bloating the financial sector.  Stockman urges that we need to bring back Glass-Steagall as the starting point for a solution to this mess.   Stockman also sharply criticized Newt Gingrich’s claim that he served as an “historian” for Freddie Mac.

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Category: Corporatocracy, Corruption, Politics

About the Author ()

Erich Vieth is an attorney focusing on consumer law litigation and appellate practice. He is also a working musician and a writer, having founded Dangerous Intersection in 2006. Erich and his wife, Anne Jay, live in the Shaw Neighborhood of St. Louis, Missouri, where they are raising their two extraordinary daughters.

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