James Bacon

Guest Opinion: Fighting for the scraps

This week, business writer Jim Bacon weighs in on the credit situation: To an unprecedented degree in peacetime U.S. history, the federal government dominates the allocation of credit in the economy. As a consequence, politically favored constituencies — real estate, banks, higher education, exports and the green industry, not to mention government itself — are getting all the capital they want, while everyone else fights over the scraps.