Why is the country practically bankrupt and mired in corruption? Can the parts of our economic culture that enable huge government giveaways be identified?
We certainly don't know about how most decisions are made at the federal level, nor do we have any idea how much money changes hands and how. But there are some things that are known. Persons in policymaking or oversight positions often seem to have been placed there to carry out certain predefined tasks.
In David Stockman's Contra Corner website, Michael Krieger lays out many examples of how those responsible for major policies get rewarded by industry via bonuses, special contract provisions and revolving door jobs:
"Nothing is more important to a fully streamlined corrupt crony capitalist economy as the ever-present “revolving door” between regulatory agencies and the industries/companies they regulate. These moves have become so pervasive in American society that it is simply impossible to keep up with them all, but I try my best to cover the most egregious examples whenever possible. As a refresher, I suggest reading the following:
How Obama’s Chief Negotiators on the Trans-Pacific Partnership Treaty Received Huge Bonuses from Mega Banks