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Both aisles, conservatives and leftists, support Cronyism with their actions. It was the Bush adminstration that came up with the plan the save Wall Street, and
by oDot 7y ago
Both aisles, conservatives and leftists, support Cronyism with their actions. It was the Bush adminstration that came up with the plan the save Wall Street, and it was Obama's that passed that plan, in one form or another.
- nicoburns 7y agoAgreed that cronyism is a problem across the political spectrum. Supporting cheap debt, and its use as a tool to prop up political support for otherwise uneven wealth distribution is something else though. Letting organisations like Wall Street pay for their stupid risks is one way of dealing with the problem. But IMO not particularly workable one due to all of the colateral damage it would inflict on ordinary people. We need to prevent this behaviour before it happens. That means making our economy less reliant on finance. I would argue that there has been no truly left government in either the US or the UK (where I live) since Reagan/Thatcher introduced this style of economics in the 80s.