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.
Well, small gun retailers. The big accounts with Walmart and Dicks Sporting Goods, those are still cool. No doubt this is as a result of pressure from the White House. Rahm Emanuel is using the same tactics in Chicago.
For anyone who is not familiar with the work Tim Carney is doing at the Washington Examiner they should be. Yesterday he reported on how it is that tax credits for certain companies found their way into the fiscal cliff bill.
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.
In the wake of the president’s triumph, the crony capitalists knew they had to come and kiss the ring. Today they did that.
I just voted.
Goldman Sachs is for Goldman Sachs. There are few companies I reserve as much contempt for in this world, with the possible exception of GE. Both now have lined up behind Romney.