Tuesday, November 22, 2011

Political Occupation of Wall Street

The WSJ published a great opinion piece by Sarah Palin on the occupation of Wall Street.

The article notes that members of Congress and political leaders routinely make great fortunes on Wall Street as they routinely receive sweetheart deals on financial productions and trade on insider information.

Our current economic paradigm is one in which people on the outside of the political structure are pitted against eachother in self-destructive competition while those on the inside divide up the spoils.

The vast unearned, risk-free fortunes made by the political class show that there is substantial collusion between the big government and big business.

Sadly, we can't legislate this collusion away. The political class is adept at turning any regulation to its favor. The greater the regulatory burden, the greater the need for political collusion in business.

There is a way out. Businesses on the outside of the good-old-boy network could start working together to provide alternatives to the services provided by government. If we chose, we could reject the poison the political class feeds us.

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