Agreed that cronyism is a problem across the political spectrum. Supporting cheap debt, and its use as a tool to prop up political support for otherwise uneven wealth distribution is something else though. Letting organisations like Wall Street pay for their stupid risks is one way of dealing with the problem. But IMO not particularly workable one due to all of the colateral damage it would inflict on ordinary people. We need to prevent this behaviour before it happens. That means making our economy less reliant on finance.

I would argue that there has been no truly left government in either the US or the UK (where I live) since Reagan/Thatcher introduced this style of economics in the 80s.