Stockman talks with Bill Moyers about how money dominates politics, distorting free markets and endangering democracy. “As a result,” Stockman says, “we have neither capitalism nor democracy. We have crony capitalism.”

Stockman dissects the 2008 financial meltdown and the government’s response, sounding a lot like Paul Krugman: “Now we have an entitled class in this country that is far worse than, remember the “welfare queens” that Ronald Reagan used to talk about?  We now have an entitled class of Wall St. financiers and corporate CEOs who believe the government is there to do… whatever it takes to keep the game going and their stock price moving upward.”

Also (near the end, starting at 31:55):

“How do we solve it?  I think we can only solve it by.. a Constitutional Amendment, so I don’t say this lightly, but I think we have to eliminate all contributions above $100.- and get corporations out of politics entirely.  Ban corporations from campaign contributions or attempting to influence elections.  Now I know that runs into current “free speech”, so the only way around it is a Constitutional Amendment to cleanse our political system on a one-time basis from this enormously corrupting influence that has built up.  And I think nothing is really going to change until we get money out of politics and do some radical things to change the way elections are financed and the way the process is influenced by organized money.”

See the full interview on video at:

http://www.rawstory.com/rs/2012/03/10/reagan-budget-director-discusses-crony-capitalism-with-bill-moyers/

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