David Stockman on crony capitalism.
David should know, because he has been knee deep in serving the monied interests and profiting from their activities for most of his life. He often strikes one as a very sly and self-serving 'reformer.' And he may be a Judas goat.
While I do not agree with his characterization with the extent of the panic that froze the paper markets necessarily, and do not trust him in general based on his past performance, much of what he says is very much to the point. It was he does NOT say that is just as interesting.