“I abandoned free market principles to save the free market system.”–George W. Bush, on CNN, December 16, 2008
David Stockman makes many good points in his scathing assessment of the financial crisis and policy responses in his NY Times Op-Ed this weekend here: State-Wrecked: The Corruption of Capitalism in America. (Although, for the record, I take great exception to his reference to energy innovator Elon Musk as a “crony capitalist”).
In this 1 hour debate, both former White House budget directors, Stockman (under Reagan) and Peter Orszag (under Obama, now Vice Chairman of Global Banking at Citigroup) spar over key issues of stimulus, healthcare, the economy and defense spending. Here is the direct link.
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