Whitewater: From the Editorial Pages of The Wall Street Journal -- A Journal
Briefing. Robert L. Bartley, ed. New York: Dow Jones, 1994. 586 pages.
This volume is a collection of Wall Street Journal editorials on
Whitewater from March 1992 to September 1994. The Journal, which missed
Watergate, the savings and loan fiasco, and the 1980s junk-bond excesses,
is making up for lost time with Whitewater. At least this is true of their
editorial department; the news department has traditionally been free to
pursue their own interests, and is inclined to downplay Whitewater. The
editorialists, however, have followed Whitewater closely and would like to
see an end to Arkansas-style corruption. This corruption is serious; there's
no question about it. Either the feds clean it up, or they can sign over the
state to some banana republic in South America and forget about it.
If the corruption in Arkansas were more sophisticated and better
laundered -- perhaps through Wall Street so that brokers and bankers could
get their cut, for example -- or if Clinton were opposed to the regulation
of big business, then Journal editorials would be singing another tune.
Wall Street feels that once the Democrats take another dive or two, many
years will pass before big business has anything to fear. Unfortunately,
this doesn't mean that the little guy has nothing to fear from big business.
It only means that the Democrats have so much other baggage we'd like to
lose, that we'll take our chances with Wall Street rather than with Arkansas.
ISBN 1-881944-02-6
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