If there are 2 guys who know about and have benefited from crony capitalism Bill Clinton and GE CEO Jeffery Immelt are those guys. They are political business people. They are fully on board with the corporate state. They believe that government and business should partner. They see no problem with crony capitalism. The stronger the partnership between government and business the better because that means more risk is underwritten by the US taxpayer while the crony class gets to reap the profits. So what if the money which goes to finance GE in Africa comes from everyday people who are sick of paying for corporations which in some years don’t pay a dime in federal taxes? So what? This is business Clinton and Immelt remind us. You, the peons just don’t get it. Just shut up and give GE and Boeing your money you serfs, you tax and debt slaves. Know your place. How dare you question the Export-Import Bank of the United States. How dare you.
I am sorry progressives but this woman is out to lunch. She’s the same old same old. She does the whole doe eyed earnest thing very well, but when it comes down to it she appears to be yet another old school corporatist.
I liked GE so much better when all I thought they made was light bulbs.
This is nothing new. They’ve long been partners. From GM to Goldman Sachs, from GE to Monsanto, this administration has sought to “partner” with business since the beginning.
“The interaction between government and business will change forever. In a reset economy, the government will be a regulator; and also an industry policy champion, a financier and a key partner.” – Jeffrey Immelt, CEO of General Electric
From the first days of this site we have chronicled GE’s mastery of the crony capitalist system. The company is extremely good at leveraging its size and political connections. Arguably there’s no company that works the system better.
The environment is very important to us at Against Crony Capitalism. We believe in a cleaner planet, we are fans of trees, we like vast expanses of rain forest, we like environmentally friendly materials and energy. But in order for something to be considered truly sustainable it must be sustainable economically. Does the market want a material or form of energy at a cost which makes sense? If the answer is no, if a project is not economically sustainable, it should not be done. Pouring mounds of taxpayer dollars (which are taken from the productive part of the economy) into untested technologies and markets created by government fiat is just poor stewardship. It’s a bad use of money.
This guy is something else. Take a look at the above picture taken when business leaders reported to the White House in the wake of Obama’s victory. Look at Obama’s face.