VIDEO: Cheney's push of deregulators led to BP disaster

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WILKERSON: I'm a more balanced Republican, I think. I recognize the need for government in some places. I recognize the power of the market. I recognize the power of entrepreneurship. I recognize the power of the American economy, the way it runs. But I am not for divorcing government entirely from that economy, because when you do so you get what we just went through. You get financial banks, for example, breaking all kinds of previous rules until they were stripped away, Glass-Steagall on, and you get messes and you get incredible maldistribution of wealth. You get—what are we now? We're at something like 13 percent of households in America own 40 percent of the wealth, I think. I can't remember the figures exactly, but the distribution of wealth in this country right now is horrible. It's worse than the UK.

JAY: So a lot of these things get dressed up as ideological positions like "we believe in the power of the free market". The war in Iraq is "we believe in democracy". But a lot of this is just about money-making.

WILKERSON: It is about money-making. It's about commercialism.

If it was supervised, if it was overseen, if it was regulated by the federal government, Cheney with his marvellous bureaucratic talent moved in and essentially replaced the people who were in the positions that were central to this regulation, this oversight, with people who were either lobbyists for the industry being regulated or executives from that industry.

A half century's work on regulation was destroyed.

Lawrence Wilkerson speaks with candor about the "Cheney culture" and the Republican mantra idealizing free markets.

to watch the interview on June 8, 2010, click on

demandside's picture
Jul. 31, 2007 4:01 pm


Even if BP had been allowed to drill fifty feet from the coast, their cheap-junk Milton Friedman unregulated free enterprise low-bid machinery still would have broken down and gushed oil directly onto the beaches.


Apr. 9, 2010 1:51 pm

The AT&T/Time Warner Merger - Time To Worry?

Give Donald Trump some credit: he might be a bigoted crypto-fascist who's taken the Republican Party to the right of Attila the Hun - but every once in a while he's 100 percent correct.

Case in point: his take on AT&T's proposed $85 billion merger with Time Warner.

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