Bush not about to reform anything

July 15th, 2002 – 8:53 pm
Tagged as: Uncategorized

“The current crisis in American capitalism isn’t just about the specific details — about tricky accounting, stock options, loans to executives, and so on. It’s about the way the game has been rigged on behalf of insiders.

And the Bush administration is full of such insiders. That’s why President Bush cannot get away with merely rhetorical opposition to executive wrongdoers. To give the most extreme example (so far), how can we take his moralizing seriously when Thomas White — whose division of Enron generated $500 million in phony profits, and who sold $12 million in stock just before the company collapsed — is still secretary of the Army?”

This column by Paul Krugman does a pretty good job of summing up why George W. Bush is probably the last man you want trying to deal with the excesses of capitalism. Of course, given the fact that most officials in the U.S. goverment are either insiders or bought (or both), little of any real impact would likely be done anyway.

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