Obama: The Best Crony Capitalist Since Mussolini

So Obama and Biden and everybody are running around, and they are trying to dredge up exactly what’s happening with these Occupy Wall Street people: Hatred and opposition for the banks. You’d think in a normal world the people that run the banks and these Wall Street firms would get mad, say, “The hell with you, we donated to your campaign, here you are denigrating us.” Instead they donate even more money. They contribute even more. They’re trying to get Obama to leave them alone. Or there is a wink, wink Obama to the bankers and the Wall Street people, “Look, you know I have to say this, I have to do this, I got my base. Just go along with it. When the rubber meets the road, you and I are gonna be fine.” That’s basically what happens.

General Electric, look at Jeffrey Immelt. Now, GE’s market cap is, what, $170 billion or some such thing? Whatever it is, it’s high and he doesn’t need federal subsidies or loans, but he takes ’em. Why? I don’t even know what Immelt’s ideology is. He makes it look like he’s a big liberal Democrat. I don’t know what he is, but if the government’s gonna come along and spend their money and you don’t have to spend yours, there’s an operative philosophy, people who believe in debt, a lot of people who do, yeah, use other people’s money to buy what you want, get other people’s money. Why use your own? If you can get somebody else to finance what you want to do, finance your growth, why wouldn’t you? So this is crony capitalism, and it has all kinds of different definitions and applications. Obama, as leftist as he is, is the biggest practitioner of crony capitalism since Mussolini.



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