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View Diary: Fossil fuel pickpockets are bankrupting states (32 comments)

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  •  I suspect that this is true of all highly (5+ / 0-)

    concentrated industries. There are a very small number of coal and oil companies operating in most of these places. The managers of these have enormous amounts of spare cash to distribute and they can buy politicians efficiently.

    Industries made up of smaller companies aren't likely to have the same political impact. Each CEO has much less to work with and they won't all agree on what to do. The personal computer industry never had much political clout even as it was remaking the economy.

    Think of what has happened with the TBTF Wall Street banks compared to what happened when the savings and loan crisis hit. The big banks were able to dictate terms to the government. Many of the savings and loan guys ended up in jail, but none of them were big enough to buy their way out (although Keating gave it a good shot).

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