Nick Sorrentino: Against Crony Capitalism

Nick and Jeff Deist discuss how huge public companies—think defense giants like Lockheed Martin and Boeing—engage in an obvious form of fiscal cronyism, while Wall Street funds and investment banks engage in what we might call monetary cronyism. And we also discuss how average people reap undue benefits in a million small ways, from selling their homes in artificially overheated markets to making money from small businesses made possible only by bubbles. Is that tech startup really “worth” a $50 million payout to the founders? Thanks to the endless distortions of crony capitalism, we may never know.

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