More graft and corruption in the Obama regime.
Via Gateway Pundit.
G.E. CEO Jeffrey Immelt is now in charge of Obama’s Council on Jobs and Competitiveness.
FOX News reported on this controversial move:
“Whether it is pushing the president’s plan for global warming fees in order to create demand for his “Ecomagination” line of windmills, solar panels, etc., boosting the president’s national health-care law as part of an effort to sell more medical equipment, or enthusing over the Obama strategy of making loans available for industrial exporters, Immelt has been an Obama stalwart all along. Immelt has also consistently argued to shareholders that there is big money to be made in advancing the Democratic agenda.
While most corporate leaders have taken a wait and see approach to Obama’s occasional overtures to the private sector, G.E., along with Google, Goldman and few others, have backed him to the hilt.”
Also yesterday, the Department of Interior announced that it would offer nearly $1 billion in loans for an Arizona power plant.
Guess who sells solar panels?… That’s right, General Electric.
This was another jackpot win for GE. What a day!
No wonder Immelt loves Obama.
Immelt and NBC Uni CEO Jeff Zucker told top CNBC executives and commentators to be less critical of Obama and his policies.
GE was a big beneficiary of the bailouts, and lobbied key Dems like Nancy Pelosi and Steny Hoyer with campaign contributions to enact GE-friendly legislation, known as “rent seeking”.
Rent seeking is using government legislation or regulation to generate private profits the free market wouldn’t provide.
GE’s financial ties to Obama’s regime go way beyond the usual political donations. Jeffrey Immelt and company now have an office in the cabinet.
Not only does GE own one of Obama’s propaganda wings (NBC), but it wields a good deal of influence over some of the economic decisions being made by people who are supposed to represent the electorate.
Where’s the Left’s outrage over “corporate welfare” and accusations of Dems being the “party of big business”?
Welcome to the socialist Kleptocracy.
Some links that reference the history between GE and Obama, courtesy of a commenter at Gateway Pundit:
http://www.examiner.com/conservative-independent-in-boston/obamagate-the-tangled-web-of-obama-ge-immelt-cap-trade-ge-healthcare-and-daschle-part-i (Part 1)
http://www.examiner.com/conservative-independent-in-boston/obamagate-the-tangled-web-of-obama-ge-immelt-cap-trade-ge-healthcare-and-daschle-part-ii (Part 2)
Obama Administration Gave General Electric—Parent Company of NBC–$24.9 Million in ‘Stimulus’ Grants.
Loophole Helps Benefit GE in Bank Rescue.
Obama, and GE in foreign trade deals.