Capitalism trumps democracy
The marriage of American capitalism and democracy has always been a Pamela Anderson and Tommy Lee affair — stormy and erratic since its hasty wedding.
American democracy is defined by vesting government power in systems and rules, not in individuals and whims. We have been, as John Adams wrote, "an empire of laws, and not of men" — until now.
Instead of responding to this meltdown by updating regulatory institutions or investing in job-creating infrastructure, the bailout gives one unelected appointee — the Treasury secretary — complete authority to dole out $700 billion to bank ...
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