ANYTHING PEACEFUL

This Partnership Will Endure

MAY 11, 2010 by SHELDON RICHMAN

My letter to the Arkansas Democrat-Gazette appeared Sunday:

Paul Greenberg’s recent column on the government vs. Goldman Sachs was excellent. But he missed one important point.

He writes: “It happens with partners. So long as the business is growing, the money’s rolling in, and everything’s coming up green, they’re the best of friends. But when business sours and profits wither, the other partner becomes the cause of it all, a total incompetent and maybe a thief to boot.”

Very true. But the key partnership in this matter is Washington and Wall Street, which have always been cozy despite their differences. They’re fighting now only because things have gone sour. But the partnership will go on — to the detriment of the American people. It’s state capitalism, not the free market, folks.

SHELDON RICHMAN Conway