David Stockman first came to prominence in the early 1980s as Ronald Reagan’s publicity-prone director of the Office of Management and Budget. In the decades since he was fired from that job, his career in the leveraged-buyout business has been of no great distinction, except that it included an indictment for fraud. (The charges were dropped, and he paid $7.2 million to settle a civil case brought by the Securities and Exchange Commission.) Now here we are discussing his new book on the corruption of American capitalism, “The Great Deformation.” The interest in his book and in the long column promoting it in the New York Times recently are a tribute to something, I suppose. I’m not quite sure what.
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