This edition: Plutocracy RisingTweet
Original tape date: October 18, 2012.
First aired: October 29, 2012.
The One Percent is not only increasing their share of wealth – they’re using it to spread millions among political candidates who serve their interests. Example: Goldman Sachs, which gave more money than any other major American corporation to Barack Obama in 2008, is switching alliances this year; their employees have given $900,000 both to Mitt Romney’s campaign and to the pro-Romney super PAC Restore Our Future. Why? Because, says the Wall Street Journal, the Goldman Sachs gang felt betrayed by President Obama’s modest attempts at financial reform.
But even more audacious than opening your wallet to trade cash for influence is strong-arming your employees to vote as you say. Such intimidation is out in the open, from the Murray Energy CEO who reportedly made his workers spend unpaid time at a pro-Romney rally; to David and Charles Koch, who sent anti-Obama and pro-Romney materials to the 45,000 employees of their subsidiary Georgia Pacific; to ASG Solutions boss Arthur Allen, who sent an intimidating email to his employees.
On this week’s Moyers & Company (check local listings), Bill is joined by two veteran journalists to discuss how the super-rich have willfully confused their self-interest with America's interest. Guests are Chrystia Freeland, author of the new book Plutocrats: The Rise of the New Global Super Rich and the Fall of Everyone Else; and Rolling Stone magazine’s Matt Taibbi, who regularly shines his spotlight on scandals involving big business and government.
Plutocracy Rising. Next on Moyers & Company.
Chrystia Freeland Journalist/Author
Bill Moyers Broadcast Journalist, Host of Moyers & Company
Matt Taibbi Contributing editor, Rolling Stone Magazine