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Sunday, June 21, 2009

The coup de grâce of capitalism’s murder is at the hands of its most successful child.

I have a personal stake in this. Once, many years ago I worked for GE. I have met its chairman, Jeff Immelt, and was struck by his friendly demeanor.

Which only goes to show that the real threat often comes from those you believed to be your trusted allies instead of those you viewed as opponents.

Jeff Immelt managed to drive the stock price of GE down by 90% from its peak, yet until recently he retained the loyalty of his shareholders, employees and the investing public.

Now he is exposed as a butt kissing Obama sycophant; a corporate streetwalker. Jonah Goldberg puts it well.

Everywhere we look we see the great and once-great beneficiaries of free markets running to the state for protection from the cruel bullying of competition. On health care, insurance companies and others repeat the mantra that they want to be “at the table rather than on the menu,” all the better to be positioned as a tax collector of the welfare state. General Motors and Chrysler have gone from being pimped-out prostitutes of the state to outright chattel more akin to the leather-bound gimp in Pulp Fiction, eager to do the bidding of the president and the UAW.

Once-proud companies like GE have become seduced by global-warming schemes because they recognize that there’s more money to be made selling white elephants to Uncle Sam than there is selling competitive products consumers want. Indeed, cap-and-trade taxes promise to deliver precisely the protectionist industrial policies the Left has dreamed of for decades, only under a “progressive” label

It's time for GE's board to fire jeff Immelt.

The collusion of government and big business has a name: it's call Fascism.

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