Crony Capitalism

Crony-capitalism is ugly. But it does not repudiate capitalism. It repudiates cronyism.



Such a crime can happen when a business locks arms with the government and gets an unfair advantage over it competitors. Impropriety is not limited to business.; the Sierra Club can play this game, too.

Cronyism means “to get a sweet deal”. A government that has power to confer unequal benefit is improperly constituted. Good constitutions curb cronyism.

Congress, AIG and Goldman Sachs seem to be involved in a sordid heist, giving evidence that the rule of law has gone astray, that the Constitution has been subverted. If Reid, Frank, Pelosi, Geithner, Paulson, Dodd, Countrywide, Goldman Sachs and AIG wrestled the taxpayer to the ground and fleeced them, that’s no indictment of capitalism.

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