Skip to content Skip to footer

Bill Moyers Talks With Reagan Budget Director About “Crony Capitalism“

This weekend, David Stockman, former budget director for President Reagan speaks candidly with Bill Moyers about how money dominates politics, distorting free markets and endangering democracy. “As a result,” Stockman says, “we have neither capitalism nor democracy. We have crony capitalism.” Sneak Peak: David Stockman Preview Clip from BillMoyers.com on Vimeo.

This weekend, David Stockman, former budget director for President Reagan speaks candidly with Bill Moyers about how money dominates politics, distorting free markets and endangering democracy. “As a result,” Stockman says, “we have neither capitalism nor democracy. We have crony capitalism.”


Sneak Peak: David Stockman Preview Clip from BillMoyers.com on Vimeo.

In the show, Stockman shares details on how the courtship of politics and high finance have turned our economy into a private club that rewards the super-rich and corporations, leaving average Americans wondering how it could happen and who’s really in charge.

“We now have an entitled class of Wall Street financiers and of corporate CEOs who believe the government is there to do… whatever it takes in order to keep the game going and their stock price moving upward,” Stockman tells Moyers.

Also on the show, Moyers talks with Pulitzer Prize-winning New York Times reporter and columnist Gretchen Morgenson on how money and political clout enable industries to escape regulation and enrich executives at the top.

Click here to check local TV schedule information.

To see other articles and video from Moyers & Co. click here.

​​Not everyone can pay for the news. But if you can, we need your support.

Truthout is widely read among people with lower ­incomes and among young people who are mired in debt. Our site is read at public libraries, among people without internet access of their own. People print out our articles and send them to family members in prison — we receive letters from behind bars regularly thanking us for our coverage. Our stories are emailed and shared around communities, sparking grassroots mobilization.

We’re committed to keeping all Truthout articles free and available to the public. But in order to do that, we need those who can afford to contribute to our work to do so — especially now, because we only have hours left to raise over $9,000 in critical funds.

We’ll never require you to give, but we can ask you from the bottom of our hearts: Will you donate what you can, so we can continue providing journalism in the service of justice and truth?