How the “Watergate Babies” Released the Beast of Monopoly Upon America

[EdwinAMartin]

Why did Washington respond to the 2008 financial crisis by pushing even more wealth and power into the hands of the same people that caused it? The answer is partly rooted in the legacy of the angry young Democrats who entered Congress in the wake of the Watergate scandal and unwittingly loosened the chains of concentrated corporate power.

How the “Watergate Babies” Released the Beast of Monopoly Upon America - ProMarket

Why did Washington respond to the 2008 financial crisis by pushing even more wealth and power into the hands of the same people that caused it? The answer is partly rooted in the legacy of the angry young Democrats who entered Congress in the wake of the Watergate scandal and unwittingly...

www.promarket.org

An excerpt from Stoller's book, Goliath, sourced at the link.

 

[eagle7-31]

Why did Washington respond to the 2008 financial crisis by pushing even more wealth and power into the hands of the same people that caused it? The answer is partly rooted in the legacy of the angry young Democrats who entered Congress in the wake of the Watergate scandal and unwittingly loosened the chains of concentrated corporate power.

How the “Watergate Babies” Released the Beast of Monopoly Upon America - ProMarket

Why did Washington respond to the 2008 financial crisis by pushing even more wealth and power into the hands of the same people that caused it? The answer is partly rooted in the legacy of the angry young Democrats who entered Congress in the wake of the Watergate scandal and unwittingly...

www.promarket.org

An excerpt from Stoller's book, Goliath, sourced at the link.

Good article. One more important point about the 'Watergate babies" they passed the 1974 campaign reform act and after a series of court cases over the years starting with Eugene McCarthy's suit we see the end result of way too much soft money and foreign money into US political campaigns. That law diluted the political parties and empowered single issue pacs etc. and we see the end result a real mess for both parties.

 

[EdwinAMartin]

Good article. One more important point about the 'Watergate babies" they passed the 1974 campaign reform act and after a series of court cases over the years starting with Eugene McCarthy's suit we see the end result of way too much soft money and foreign money into US political campaigns. That law diluted the political parties and empowered single issue pacs etc. and we see the end result a real mess for both parties.

And they passed the 'super-delegate rule' soon after being elected, early 1980-ish. I'm more moderate than Matt Stoller is re his preferred 'solutions', some market functions, like utilities, roads, etc. are natural monopolies, but his facts on the history are spot on, and few others ever give Wright Patman the attention and respect he deserves. Stoller's book Goliath is well worth a read, whether one is right or left wing, just for the history alone. It makes a good companion volume for roughly the same era, 1960's on, Hugh Davis Graham's The Civil Rights Era, another good exegesis of that legislation and its companions, and how the left wing radicals screwed up the Party.