They fought over hundreds of millions of dollars in riders sponsored by senators to benefit corporate interests and home-state residents.
It is unnecessary, he said, and will "benefit economic interests while contaminating all the adolescent fish in the river."
He also argued that the economic decisions must be made to benefit citizens rather than corporate interests.
Another criticism of the Act was that it applied to rated land not personal or movable wealth, therefore benefiting commercial and business interests.
"This is a high-handed override of the rights of the American people, intending to benefit wealthy and powerful special interests."
The problem for any new supra-authority will be to sort out its priorities, which must benefit London as a whole rather than local short-term interests.
There is also a risk that the system which has been drawn up will benefit major industrial interests at the expense of small enterprises.
President Bush fulfilled his vow today to veto a bill that would regulate cable prices, saying it benefited special interests rather than the public.
Most of Stiglitz's examples refer to government intervention that benefited special interests.
Many of the protesters have argued that globalization tends to benefit multinational interests at the expense of the poor.