10 Sep '12, 3pm

Charles Koch, America’s largest crony capitalist, takes on crony capitalism

Charles Koch, America’s largest crony capitalist, takes on crony capitalism

Businesses have failed to make the case that government policy—not business greed—has caused many of our current problems. To understand the dreadful condition of our economy, look no further than mandates such as the Fannie Mae and Freddie Mac “affordable housing” quotas, directives such as the Community Reinvestment Act, and the Federal Reserve’s artificial, below-market interest-rate policy. Far too many businesses have been all too eager to lobby for maintaining and increasing subsidies and mandates paid by taxpayers and consumers. This growing partnership between business and government is a destructive force, undermining not just our economy and our political system, but the very foundations of our culture.

Full article: http://grist.org/news/charles-koch-americas-largest-crony...

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