A different variety of capitalism

letter in Daily Local News, 10/27/09, p. A6:

Is John Stossel joking in regard to Michael Moore (Opinion, Oct. 19)? To be precise, Moore’s “Capitalism: A Love Story” isn’t just talking about “capitalism,” it’s talking about unbridled crony, cut-throat capitalism. The variety of capitalism that has been devouring all in its path since Ronald Reagan and his tremendous tax cuts for the rich.

The revolving door between mega corporations and Washington has brought us to where we are; our laws are ignored, our treasury plundered, our manufacturing base decimated.

Our people are dying for lack of health care while Big Pharma spends $400 million (so far) to thwart legislation to protect them.

Under the last administration, regulatory agencies went from enforcement to “let’s make a deal” and the people of the United States are paying and paying and paying.

The phony phantom wealth that Wall Street creates at the expense of Main Street shows just why we need regulation and enforcement, Mr. Stossel.

A few more representatives in Washington, D.C., looking out for more than their next campaign contribution wouldn’t hurt either.

Pat Guerra
East Fallowfield

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