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When Socialism Met Capitalism

A few days ago I noted one major hole in John Rawls' theory of justice, namely, corruption.  This New York Times article offers more evidence of the problem of government redistribution:A tight-knit group of former senior government officials who were central players in the savings and loan bailout of the 1990s are seeking to capitalize on the latest economic meltdown, enjoying a surge in new business in their work now as private lawyers, investors and lobbyists.With $700 billion in bailout money up for grabs, and billions of dollars worth of bad debt or failed bank assets most likely headed for sale or auction, these former officials are helping their clients get a piece of the bailout money or the chance to buy, at fire-sale prices, some of the bank assets taken over by the federal government...continue to full post

Full post as published by Crime & Federalism on December 29, 2008 (boomark / email).