Capitalism … what capitalism? Update: WSJ on Robert Rubin

November 25, 2008 | Jim Vicevich | |

Economist Ben Stein on the O’Reilly Factor once again makes his case as to why capitalism has been in decline in America for some time now. More interesting though is his comment at the end that unfortunately Laura Ingram has to gloss over because of time … the Robert Rubin connection to CitiGroup and the man who be in charge of the bailout Tim Geithner.

Here’s more proof for what Stein has to say in this morning’s Journal

The writers at the Deal Journal blog remind us of one particularly egregious massaging, when Mr. Rubin tried to use political muscle to prop up Enron, a valued Citi client. Mr. Rubin asked a Treasury official to lean on credit-rating agencies to maintain a more positive rating than Enron deserved. What signal will President-elect Barack Obama send if his Administration, populated with Mr. Rubin’s protégés, allows this uberfixer to continue flying hither and yon on the corporate jet while taxpayers foot the bill?

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Jim Vicevich

Jim is a veteran broadcaster and conservative/libertarian blogger with more than 25 years experience in TV and radio. Jim's was the long-term host of The Jim Vicevich Show on WTIC 1080 in Hartford from 2004 through 2019. Prior to radio, Jim worked as a business and financial reporter for NBC30 - the NBC owned TV station in Hartford - and as business editor at WFSB-TV in Hartford for 14 years while earning six Emmy nominations and three Telly Awards.

6 Comments

  1. Dave in EH on November 25, 2008 at 5:07 am

    It is corporations operating in the government model — first we break it, then we install cronies and obsequious sycophants at high salaries to fix the things we broke.



  2. KLR on November 25, 2008 at 5:52 am

    This is the end, my only friend the end….the doors



  3. Erik on November 25, 2008 at 6:14 am

    Ben Stein is an idiot {seesmic_video:{"url_thumbnail":{"value":"http://t.seesmic.com/thumbnail/Arv10S9XbN_th1.jpg"}"title":{"value":"Ben Stein is an idiot "}"videoUri":{"value":"http://www.seesmic.com/video/2FYOkswA0p"}}}



  4. Nancy Quinn on November 25, 2008 at 8:06 am

    Two words: FRENCH SOCIALISM perpetrated by the "Obamanation."



  5. Okie Jim on November 25, 2008 at 9:17 am

    Ben Stein might be an idiot (I don't think so, but obviously Erik does); but in this instance, he's right on the money. We haven't had a true free-market-capitalist economy since prior to the Great Depression. Whether or not it died with Hoover is a matter of debate 🙂

    What always USED TO make me feel good that the amount of socialism injected into the free-market, capitalist side was minimal. Not so much any more.

    RIP, American Dream.



  6. Dave in EH on November 25, 2008 at 12:05 pm

    Truth be told, we haven't had honest competition since the end of the Second World War.



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