Saturday, January 22, 2011

Obama, GE, and Crony Capitalism

The press is swallowing the "I'm pro-business" elixir that Obama poured in abundance during his recent trip to Albany New York. (How many frequent flyer miles does he have on Air Force One, already... can we exchange them for any free trips? Like maybe a one-way trip to Cuba?) Anyway....They say this is a beta version of his upcoming State of The Union Address.
"He's turning a corner, modifying his message, changing his image to a more pro-business look."


This is no different than anything he's done over the previous two years. It's not pro-business, it's pro-GE!!

He announced the appointment of GE CEO Jeffrey Immelt to head a new team of economic advisors. Wasn't he already the head of a group of economic advisors??

Ahhhh yes.... according to Wiki, " In February 2009, Immelt was appointed as a member to the President's Economic Recovery Advisory Board to provide the president and his administration with advice and counsel in fixing America's economic downturn.[7]" - Jeffrey Immelt
And yes! The economic recovery is going just soooooooooooo well, no wonder he's being rewaded with more power and influence!

Okay... the recovery sucks.... so what could possibly be the reason for the Federal Government cuddling up to GE and getting so cozy with GE and its CEO?

Maybe.... just maybe it's because of the Chicago Climate Exchange... an organization run by close Obama political cronies and set to earn 1 TRILLION dollars a year when Cap-And-Trade is implemented. So what does GE have to do with the CCX? Well, GE owns the rights to much of the technology that will be used by CCX.... GE is set to make billions, if not hundreds of billions of dollars when Cap-And-Tax is rolled out. On top of that GE Heathcare (The division Immelt formerly ran) cashed out like gangbusters with Obamacare. There is nothing new about this.... this kind of favoritism, graft, crony-ism has been around since the so-called trust-busting of Teddy Roosevelt (which actually made the trusts much stronger and richer than they were before.)

Remember GE also got the largest (non-banking institute) bailout from the porkulous....errr... stimulus package.

There is nothing new about this. Obama came to office promising "no more business as usual." Well, maybe he's right... the cronyism in crony capitalism used to be subtle and under the table (or in some back room) now, it's right there out in the open - obvious and blatant. Is this the change you voted for, America?

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