Thursday, October 20, 2011

A point that cannot be repeated too often



From the Columbia Journalism Review:
The Democratic Party has had it both ways for nearly two decades since the ascendance of Rubinomics turned Wall Street into a powerful constituency for both political parties. Not coincidentally, Bill Clinton's installation of a Wall Street-friendly economic team also resulted in weakened Wall Street oversight, the actual prevention of oversight, and even an abandonment of it altogether in the case of Traveler's merger with Citigroup (which would go on to pay Robert Rubin $115 million for doing... well, not much).

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