ELIANA JOHNSON: Inside the Koch Brothers’ Southern California Confab.
It’s a lavish three-day affair. So it was surprising to hear Charles Koch on Saturday evening, surrounded by some of the wealthiest men and women in the nation, take the stage to assail big bank bailouts and government handouts for the rich. Charles Koch is the more press-shy of the Koch duo, who together run one of the country’s largest privately held companies, Koch Industries. Doing away with crony capitalism might hurt some of the individuals in attendance, Koch said, and it would certainly hurt Koch Industries, but over the long term, doing away with crony capitalism would revitalize the economy and benefit all parties. Bailing out the big banks, he said, had not only created a culture of dependency at the top, but crushed small community banks at the bottom.
“We need to start by eliminating welfare for the rich,” he said. “Physician, heal thyself.”
I agree.