The End of Sound Money and the Triumph of Crony Capitalism Monday, March 14, 2011 by David Stockman Mandeville, LA - The text of this speech is excerpted from¬†The 2011 Henry Hazlitt Memorial Lecture, given on March 12 at the Austrian Scholar's Conference in Auburn, AL -The original text and audio versions are here The triumph of crony capitalism occurred on October 3rd, 2008. The event was the enactment of TARP ‚ÄĒ the single greatest economic-policy abomination since the 193‚Ä¶.Continue
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Virginia, the two Carolinas and Georgia, may be said to defray three fourths of the annual expense of supporting the federal government; and of this great sum annually furnished by them, nothing, or next to nothing, is returned to them in the shape of government expenditure. - Senator Thomas Hart Benton