First came Government Motors, now we have Government Electric.
Hugo Chavez, eat your heart out.
1. In the last two election cycles GE political contributions went 63% to Democrats.
2.GE owns NBC which, in partnership with Microsoft, owns MSNBC.
3. Obama said publicly that the reason he included India in his Asian tour was to secure a turbine contract for GE.
4. GE is not a bank. But GE received 340 B dollars from the TLGP (Temporary Liquidity Guarantee Program), a bailout program for which only banks qualify. And yes, that’s a B.
5. No restrictions were put on CEO Jeffery Immelt’s salary as done with other recipients of bailout money.
6. GE paid no federal income tax in 2010, none.
7. GE received a 3.2 B dollar “tax benefit” in 2010, the year in which they paid no tax.
8. Why did GE get bailout money in the first place?
9. GE was in front of the line for a waiver of the burden of Obamacare.
GE is a leading maker of wind power turbines, solar panels and other green technologies that derive their profits from government subsidies not from market demand. Looking at Government Motors and Government Electric we get a glimpse of National Socialism. In a capitalist society, in a business, government may be your friend. In a National Socialist society government is your partner. Collusion and corruption become keys to your success. Competition is handled by selective regulation, not by superior innovation.