Two major developments in the U.S. financial and business sector denote an ironic symbolism, pointing to precisely what is wrong with the American economy today.
The corruption-laden Goldman-Sachs contributed nearly one million dollars to the campaign of Barack Obama, making it his largest donor. And GE, the Leftist corporation that pushed Obama's 'cap and trade' scheme, paid zero in taxes.
(AP Photo/Diane Bondareff). Inside Goldman-Sachs headquarters.
Goldman-Sachs was a major player in the near-collapse of the financial sector in late 2008, resulting in the 2 bailout bills enacted by Congress--one under George W. Bush and the other under Barack Obama. The corporation also benefited handsomely from the money taxpayers were forced to fork over, under the threat that if they didn't, the next Great Depression was just around the corner.
As it turns out the corporation is up to its neck in corruption. And it has been a major player in financing the campaigns and program initiatives of Barack Obama.
Similarly, General Electric has cast its lot and thrown its entire reputation onto the bandwagon of the Obama machine. GE also received a handsome bailout from the taxpayers, given that the corporation was hemorrhaging money worse than a gambling addict down on his luck.
Until this year, GE owned NBC, MSNBC, and CNBC, and the bias exhibited in the news reporting of these networks was more than just obvious. It was blatant and unapologetic. Chris Matthews, one of the MSNBC heavyweights, stated that listening to Barack Obama 'made a tingle run up his leg.'
General Electric also pushed Obama's 'cap and trade' scheme to tax individuals and businesses for their 'carbon output.' Obama admitted that this plan would send the energy costs for the average American family through the roof--an estimated extra $3000 per year per household.
And GE stood to be one of the major beneficiaries of this scheme, given that they have rebranded themselves as a 'green-friendly' company that supports reductions in 'man-made global warming.'
But what the company did not tell the public is that it is invested heavily in sectors of the economy that will benefit from the switch to 'green.' Plus, the company will merely pass along whatever cost increases it incurs under cap and trade to the consumers, taking full advantage of the 'crisis' by making windfall profits.
Interestingly enough, the company paid no taxes at all during 2009.
Thus, here we have a corporation that received multi-millions in taxpayer bailout funds that paid no taxes and is pushing the Obama cap and trade bill that will slap an extra $3000 bucks per year onto American families for their energy costs.
This is what happens when big business decides to go to bed with big government. The bastard love-child that results is what we call 'fascism.'
For commentary on the issues of the day, visit my blog at The Liberty Sphere.
Comments
You mean the GE that still uses Ronald Reagan in its commercials?
The GE that still owns NBC/Universal - since the Comcast deal hasn't gone through yet?
The GE that didn't pay US taxes for 2009 because it had negative U.S. pretax income (no profit) for the year thanks to Bush economic policies?
The GE that historically has given more to Republicans than to Democrats - until the 2008 election cycle, when Republicans turned against their core businesses - thereby contributing to that negative U.S. pretax income for 2009?
THAT GE??
You expected maybe they would REWARD the party trying to ruin their business????
GE has changed significantly since the days of Ronald Reagan. And their current use of him in their propaganda commercials is simply an outrage. They are locked in a love-embrace with Barack Obama, their tongue deeply embedded down his throat.
Horse-pucky - they're an industrial giant that throws cash at whichever party/politician they think can help them - just like every other major corporation.
And weren't you one of those rejoicing in the Supreme Court ruling that corporations can buy their way into elections?
No, I did not. I rejoiced because SCOTUS retored FREE SPEECH, allowing groups to buy TV ads during political campaigns.
Anthony G. Martin says: No, I did not. I rejoiced because SCOTUS retored FREE SPEECH, allowing groups to buy TV ads during political campaigns.
Now the corps can do what their UNIONS have been doing fro years!
Correct, Eh? But apparently Martin feels corprocrat should only have that right when they throw money at his preferred candidates/issues.
Sauce for the goose and all that...
To "Huh?", you are real informed (NOT); Goldman Sachs is Geithner's old firm and responsible for the hoax that was called crisis--and will probably be for the next one
Eh,
My perspective on Unions, as I live in the south, is probably skewed. We don't have a union presence of any significant power. Since that is true, geographically speaking, the southern states will not be benefitting from this fair playing field that folks are talking about with the SCOTUS decision.
The larger question regarding the story: Were GE's actions legal? Why were they legal? How do we begin to fix it? We do live in a global economy so now what? Is the answer really to allow companies to self-regulate?
Hey moss-brain - where did I even mention Goldman Sachs?
GE, the company that did substantial business and made profits selling to Iran? Is this the same GE?
GOLDMAN-SACHS HAS HIRED EX WHITE HOUSE COUNCIL GREGORY CRAIG . CRAIG IS STILL IN GOOD STANDING WITH OBAMA, AND GOLDMAN-SACHS WAS A MAJOR SUPPORTER OF THE "OBAMA IN 08" CAMPAIGN ! THE S.E.C. WILL UTILIZE GOLDMAN-SACHS AS THE "SACRIFICIAL LAMB" IN THIS RUSE BEING PLAYED ON THE AMERICAN PEOPLE AND THE WORLD, DRAWING NO ATTENTION TO THEMSELVES FOR (DELIBERATELY ?)ALLOWING THIS SCAM TO GO ON UNNOTICED . THE S.E.C. INCOMPETENCE ALONG WITH THE CURRENT AND PAST ADMINISTRATIONS BLIND EYE INTO THIS MATTER WILL NEVER BE CHALLENGED . THE LEFTIST M.S.M. WILL SPIN THEIR DISINFORMATION AS USUAL. GOLDMAN-SACHS WILL BE FINED A MEASLY SUM AND CONTINUE OPERATE.... BUSINESS AS USUAL. THE S.E.C. AND OUR GOVERNMENT WILL BE PATTING THEMSELVES ON THE BACK FOR DOING SUCH A GREAT JOB IN MAINTAINING THE STATUS QUO. THERE HAVE BEEN RATS SLEEPING IN OUR WHITE HOUSE....I THINK THAT IT'S TIME WE GOT RID OF THE RATS AND CHANGED THE SHEETS !
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