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Politics : Sioux Nation

DJT 16.10

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Dec 19 9:30 AM EST

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To: stockman_scott who wrote (184393)	1/8/2010 11:33:00 PM
From: T L Comiskey	1 Recommendation Read Replies (1) of 361703

PBS...Moyers Journal.. Big Banks "While the great wealth of Wall Street allows it to lavish campaign contributions on Congress, it is not money alone that gives the financial industry so much power. The influence of Wall Street has managed to change the national conversation. MOTHER JONES political blogger Kevin Drum explained the phenomenon using a term used by economist Simon Johnson: It goes beyond regulatory capture, where, say the banks control the S.E.C. That's one thing. "Intellectual capture" means that essentially the financial industry has convinced us — you know, in the '50s what was good for General Motors was good for America — now it's what's good for Wall Street is good for America. And they've somehow convinced us that we shouldn't ask about what's right or what works or what's good for America. We should ask what's productive, what's efficient, what helps grow the economy. It is this "intellectual capture" that prevents a reform movement from taking hold. David Corn, Washington bureau chief for MOTHER JONES, pbs.org

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