The idea that a freshman senator from Illinois who never worked in a coal mine, ran a coal mine or invested in a coal mine knows how to write legislation that can have dramatic disruptions to the coal industry is absurd.
Of course private interests help craft legislation. They intimately understand their business model, and how it can best be adapted in the face of a desire for more government control.
The goal of government is not to snuff out industry - aka Communism. Nor is it to force corporations "to work" for the state - that's called FASCISM, kids.
What made this country the engine of the world economy is free enterprise and minimal government intervention. With economic prosperity comes the rest.
The real danger is not from capitalism, but from the collusion of capitalism and government to suppress competition and innovation, and reward incompetence and greed.
Case in point: the ethanol lobby. You've got a bunch of political hacks who came up from Iowa and Wisconsin without so much as a business degree or a savings account and decided to enrich themselves by catering to the Agriculture lobby, entrenching government subsidies that disproportionately benefit the biggest producers at a time of record crop prices. These subsidies have destroyed the family farm and have enriched Big Farma, while pushing up the cost of oil and basic consumer foods.
Another point: the bailout of the Wall Street banks. In a free economy, the market would make adjustments based on losses due to inefficient investment strategies, but with the government and the Fed propping up this nonsense, it is only allowed to continue unabated.
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