the economy sagged, and in 1982 and '84, reagan and stockman agreed to tax increases. in 1985 stockman left government and wrote a book critical of his own years in power -- "the triumph of politics: the inside story of the reagan revolution." he then took his economic expertise to wall street and became an investment banker. 30 years later, he's writing a new book, with the working title "the triumph of crony capitalism." i sat down with him to talk about how politics and high finance have turned our economy into a private club for members only. what do you mean by crony capitalism? >> crony capitalism is about the aggressive and proactive use of political resources, lobbying, campaign contributions, influence-peddling of one type or another to gain something from the governmental process that wouldn't otherwise be achievable in the market. and as the time has progressed over the last two or three decades, i think it's gotten much worse. money dominates politics. and as a result, we have neither capitalism or democracy. we have some kind of -- >> what do we have? >> w

. >> david stockman is going to be out here in a second.he's one of the best voices of the country against capitalism or corporate communism or getting screwed. it depends what you like to call it. but he's here to talk about how to return investment in this country and get corporatists and take advantage of what we're learning through the republican debates to not only raise the bar on the republicans, but to take that new higher bar back over to the democrats. straight ahead, why we can't get no satisfaction when it comes to the economy. former director david stockman is here. you wouldn't want your doctor doing your job. so why are you doing hers? only your doctor can determine if your persistent heartburn is actually something more serious... like acid reflux disease. over time, stomach acid can damage the lining of your esophagus. for many, prescription nexium not only provides 24-hour heartburn relief, but can also help heal acid related erosions in the lining of your esophagus. talk to your doctor about the risk for osteoporosis-rela

former reagan budget director david stockman. handedly winning 40% of the vote to mitt romney's 28%. one of the more surreal elements of the south carolina race was the presence of the stephen colbert/herman cain team. colbert's presence in south carolina. this is him on "morning joe" talking about -- they play an ad which is -- he has this running shtick about how he created a super pac and handed it over to stephen colbert and not coordinating. it is perfect absurdities of campaign finance law in the wake of the citizens united decision. here is on "morning joe" driving this point home. >> my staff did not make that ad. jon stuart's staff made that ad. it used to be the same staff that worked for me. he hired them from my staff and can work with other members who are working on my exploratory committee but we are keeping them separate. >> that's the actual letter of the law how super pacs have to work. we are seeing super pacs play this outsized role in the election. i think that it has been chewed over quite a bit. it is not n

former reagan budget director david stockman. newt gingrich won the south carolina primary last night handedly winning 40% in the vote to mitt romney's 28%. one of the more surreal elements of the south carolina race was the presence of the stephen colbert/herman cain team. talking about his presence in south carolina. this is him on "morning joe" talking about -- play an ad which is -- he has this running shtick about how he created a soorper pac and handed it over to jon stew art and not coordinating and the entire thing is just perfect absurdities of campaign finance law in the wake of the citizens united decision. here he is on "morning joe." >> my staff did not make that ad. jon stuart's staff made that add and they used to work for me on my super pac. hired them away from my staff and can work in my building with other members of my staff working on my exploratory committee. we keep them separate. we are seeing the super pacs play xwrout side this role in the election. when you think about in the pre-super pac area, gingric

after decided to reduce nuclear power generation gas from has been counted on the do as a market for stockman had to start looking for alternatives following a spike in the u.s. domestic production. and that's all the business news for now for more stores you can always had so our websites are to dot com slash business with the headlines. the be. the be. the litmus tests. the bank . the books. the be. culture is that so much money going which of course is going to come as ability is the biggest and most expensive elections money can buy this is how many americans see what i call political action committees or super pacs. eleven thirty pm in moscow these iraqi headlines serious slams an arab league plan to solve the country's crisis that required president assad to step down the mask has said the initiative was an interference in its internal affairs and an attack on syria's sovereignty and. the e.u. adopts unprecedented sanctions against iran which include a complete embargo on its oil of move targeting tehran's nuclear program russia calls the sanctions on a state that undermines diplomatic

russia has found a new markets for star and stockman gas field gas from c i like say miller says the energy monopoly and its partners are consider and supply liquefied natural gas to japan the country is expected to increase consumption. after the cited to reduce nuclear power generation gas from has been counted on the e.u. as as a market for stockmen but it had to start looking for alternatives fallen as spiking was the last production. that's all we have time for the south. side. culture is that so much of it which of course you run it will be. the biggest and most expensive elections money can buy this is how many american see what are called political action committees or super pacs. nine thirty pm in moscow the zero headlines syria slams an arab league plan to solve the country's crisis that required president assad to step down damascus says the initiative was an interference in its internal affairs that attack on the country suffer. the e.u. adopts unprecedented sanctions against iran that include a complete oil embargo a move targeting tehran's nuclear program russia calls t

the second with david stockman and gretchen morgenson on "crony capitalism." in this edition, we'll look at a seminal moment when wall street and washington stacked the deck against the rest of us. remember, this is the political equivalent of a crime story, a mystery. how is it that our economy stopped working for the broad majority of americans? how did our political and financial class shift the benefits of the economy to the very top, while saddling us with greater debt and tearing new holes in the safety net? in other words, how did politics create a winner-take-all economy? well, it didn't happen by accident. this was an inside job, politically engineered by wall street and washington working hand-in-hand, sticky fingers with sticky fingers, to turn the legend of robin hood on its head -- giving to the rich and taking from everybody else. it's all on the record. the richest of the rich was citigroup, at one time the world's largest financial institution. when the 2008 meltdown hit, the bank cut more than 50,000 jobs, and taxpayers shelled out more than $

first, david stockman a one-time enforcer of the reagan revolution. >> there was clearly reckless speculativeavior going on for years on the wall street. >> and john reed, a banker's banker who was in when washington loaded the dice and wall street rolled them. >> is t wasn't that there was one or two institutions that you know got carried away or did stupid things, it was we all did. and then the whole system came down. >> and at our new website obillmoyers.com, i interviewed two occupy wall street organizers who give us insight into the movement and what it hopes to accomplish. we'll also link you to our interview with the editors of "mother jones" magazine and their coverage of the "dark money" that has cast a deep shadow across this election year. that's at billmoyers.com. see you there and see you here next time. >>> got a question for bill, bring it to you at billmoyers.com. send it in and read some recent answers. this episode of "moyers and company" is available on dvd for $19.95. to order call 1-800-336-1917 or write to the address on your screen. funding is provided by -- 

melissa harris-perry will be back and joined by eliot spitzer and david stockman.ne tow following website. see you tomorrow. thanks for getting up! this is an rc robotic claw. my high school science teacher made me what i am today. our science teacher helped us build it. ♪ now i'm a geologist at chevron, and i get to help science teachers. it has four servo motors and a wireless microcontroller. over the last three years we've put nearly 100 million dollars into american education. that's thousands of kids learning to love science. ♪ isn't that cool? and that's pretty cool. ♪ the calcium they take because they don't take it with food. switch to citracal maximum plus d. it's the only calcium supplement that can be taken with or without food. that's why my doctor recommends citracal maximum. it's all about absorption. ttd#: 1-800-345-2550 let's talk about the cookie-cutter retirement advice ttd#: 1-800-345-2550 you get at some places. ttd#: 1-800-345-2550 they say you have to do this, have that, invest here ttd#: 1-800-345-2550 ttd#: 1-800-345-2550 you know what? ttd