Another Order Of Chicago-Style Hope And Changed Is Ready

Proof • June 30, 2009

Remember when Obama campaigned as the “new politics” candidate? Remember when he promised hope and change? Well, since coming to office it seems to be corrupt politics as usual.
It turns out that General Electric is profiting mightily from one of the Obama administration’s various bank rescue schemes:

General Electric, the world’s largest industrial company, has quietly become the biggest beneficiary of one of the government’s key rescue programs for banks.
At the same time, GE has avoided many of the restrictions facing other financial giants getting help from the government.
The company did not initially qualify for the program, under which the government sought to unfreeze credit markets by guaranteeing debt sold by banking firms. But regulators soon loosened the eligibility requirements, in part because of behind-the-scenes appeals from GE.
As a result, GE has joined major banks collectively saving billions of dollars by raising money for their operations at lower interest rates. Public records show that GE Capital, the company’s massive financing arm, has issued nearly a quarter of the $340 billion in debt backed by the program, which is known as the Temporary Liquidity Guarantee Program, or TLGP. The government’s actions have been “powerful and helpful” to the company, GE chief executive Jeffrey Immelt acknowledged in December

By the way, this is the same General Electric that stands to harvest massive profits from government health care contracts stemming from language put into Obama’s economic “stimulus” spending spree allowing for the creation of a government health records system. The same General Electric that got $140 billion in bailouts last year. The same General Electric which is positioned to rake in big profits from any cap and trade system the government may made up.
GE is no doubt paying back all that “powerful help” by lavishing praise upon the government with its media arm at NBC and MSNBC. Ever wonder why Obama can’t do anything wrong in the eyes of the reporters and pundits for those networks? It’s not just because they’re liberals.
I don’t have a problem with businesses turning big profits. I think any given individual or business should be free to be as big and successful as they want to be. I just don’t think it’s right when businesses profit not because they offer products and services people want at reasonable prices but rather because they’ve successfully lobbied the government into creating business for them.

Tags: Asshats, Domestic Issues, Politics

http://sayanythingblog.com/ likwidshoe

DINO – The predators your ideology unleashed with their insatiable appetite for profits will not go quietiy, not when you gave them whatever they wanted for decades.

The predator here is the government and a company profiting from government bending the rules to their favor.

That’s your beast.
http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

Kind of a confusing quandary for you people, isn’t it? A lietime of worshipping corporate power and wealth, allowing the private sector to supplant the civic, protecting the right of the rich and the corporate to influence and bend policy to their favor, now you want to see it come to an end, how?

Whose imperative was it to “privatize” everything? Whose mantra is “public bad, private good”?

You’re getting the country you so richly deserve. The predators your ideology unleashed with their insatiable appetite for profits will not go quietiy, not when you gave them whatever they wanted for decades.

You have no one to blame but yourselves. If Obama were to have created an agency to do what is now a private sector “outsourced” function of the government, you’d be screaming about the socialist big government agenda.

You made your bed, now die in it.
http://sayanythingblog.com/entry/america_is_back/#c397018 DINO

Badlands makes slightly less sense than likmydik.
Bat One

The company did not initially qualify for the program, under which the government sought to unfreeze credit markets by guaranteeing debt sold by banking firms. But regulators soon loosened the eligibility requirements, in part because of behind-the-scenes appeals from GE.

Sounds eerily like what the last bunch of liberal Democrat office-holders did to buy votes among “the poor” by forcing Fannie and Freddie to lower credit standards. Their efforts ultimately brought both GSEs crashing down, requiring a taxpayer take-over.

Obama is simply using taxpayer money to payback his supporters. Beyond that, he hasn’t the faintest idea what he’s doing.
badlands4

Badlands makes slightly less sense than likmydik.

If you don’t think it is a relevant question or you don’t feel it is worthy of answering, then just say so, but try being a grown up when you do it okay?

This isn’t 7th grade.
badlands4

But Dino, let me ask you a question please

I am going to assume, and please correct me if I am wrong, that you thought that govt was in bed with “big oil” and you had, in effect, Haliburton and the like making govt policy, at least in the energy area, right?

So, assuming that is so(and again, I apologize if that is not the case, but I have a feeling it is ) are you not equally outraged to see “big green” in a kabul with the govt?
Ken

Kind of a confusing quandary for you people, isn’t it? A lietime of worshipping corporate power and wealth, allowing the private sector to supplant the civic, protecting the right of the rich and the corporate to influence and bend policy to their favor, now you want to see it come to an end, how?

I know you’re confused, but it’s really not that complicated. GE getting special treatment from the government isn’t free-market capitalism. We’ve never advocated private coporations bending policy. In fact the growing corporate and government entanglement is precisely what we’ve argued against.

The predators your ideology unleashed with their insatiable appetite for profits will not go quietiy, not when you gave them whatever they wanted for decades. You have no one to blame but yourselves.

So then why aren’t you criticizing Obama for giving an “evil coporation” even greater power and profits?
Bat One

badlands4,

May I suggest, from personal experience, that appeals to reason and rational consistency are a total waste of your time. The best you are likely to get is a sanctimonious response based largely on 1). Bush did it first, therefore conservatives have no call to complain; and 2). We won the election, so STFU!

“Progressives” are rather like slightly more sophisticated Stalinists, except that they’ve had to learn patience since they haven’t figured out how to disarm the population. You’re looking for a virgin in a cathouse. Save yourself the trouble!

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