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Republicans attack Wall Street

July 29th, 2002

The outlines of the US election in November are now clear, at least in relation to domestic issues. The Democrats will try to tie the Bush administration to corporate corruption, focusing on the administration’s obvious links to criminal or dubious energy enterprises like Enron, Halliburton and Harkon. Meanwhile, a Republican counterattack will focus on the Clinton administration’s ties to Wall Street. The principal target here is Robert Rubin, and his employer Citigroup,, but inevitable collateral damage extends in one direction to Greenspan and the Fed (charged with inflating the bubble) and to other big Wall St firms like JP Morgan Chase, who assisted Citigroup as Enron enablers. Andrew Sullivan is leading the charge, but there are plenty of others following. In the spirt of bipartisanship, I propose a compromise. Why don’t we just agree that corruption is endemic and that both parties are guilty.

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