by Caroline Baum
June 16 (Bloomberg) — Reports of the death of capitalism may have been greatly exaggerated following the panic and crisis of 2008 and the government’s assumption of a bigger role in the economy. Now I’m not so sure.
It’s one thing when the government takes an ownership stake in a company, as it did with the banks. Then it has the authority, even a duty to taxpayers, to be involved in determining how much the company pays out in the form of dividends to shareholders and how generously it compensates its executives.
When the government has no ownership stake, it has no business interfering in the inner workings of a company, other than ensuring compliance with the regulations it has put in place.
President Barack Obama wants to change all that.
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