President Obama talks quite a bit about investments. Mark Levin points out how GE has made a big investment in Obama. Listen as Levin notes that the only jobs Obama’s created are in China, and how GE is Obama’s Haliburton. Remember the way the left hissed when Haliburton was mentioned during Bush’s presidency? Levin wonders why Obama gets a pass with GE.
Related: There’s an informative editorial in the Washington Times about Obama the crony capitalist.
It has been a banner year in government largesse for America’s fourth-largest corporation. This month, the Federal Communications Commission approved the 51 percent/49 percent NBC Universal joint venture between Comcast and GE. Last week, GE announced a White House-backed plan for another joint venture with a Chinese avionics company. Mr. Obama capped the good news by naming GE Chief Executive Jeffrey R. Immelt as head of the President’s Council on Jobs and Competitiveness – this after GE eliminated 18,000 U.S. jobs in 2009 (the most recent data available).
Last summer’s grumbling aside, Mr. Immelt has long been an Obama champion, seeing opportunities for profit in the administration’s emphasis on so-called green technologies and in opening foreign markets. The GECEO envisions a future with less emphasis on free markets and more “coordinated commitment among business, labor and government.” In 2009, he praised government intervention in the economy, telling shareholders that “in a reset economy, the government will be a regulator; and also an industry policy champion, a financier and a key partner.”
That last line is the definition of crony capitalism, or corporatism, if you will. It is not capitalism, in the pure sense, and it certainly isn’t a free market. It’s also quite telling that GE shares its bed with the corrupt Chinese government.
There’s much more at the link.
Video via Breitbart