Is President Obama corrupt or just naïve and inept?

Arnold Ahlert describes in a recent piece how GE CEO Jeffery Immelt, Obama’s head of the newly-created President’s Council on Jobs and Competitiveness, is a crony capitalist. Here are some of the key excerpts:

Mr. Immelt has made no secret of his intention to advance the fortunes of General Electric using government contracts as his vehicle of choice.

Beginning in 2007, General Electric was also directly involved in the successful campaign to eliminate incandescent lights bulbs.. On September 8, 2010, GE shut down its last incandescent bulb factory in the United States, laying off 200 American workers in the process. Where will they be manufacturing their new fluorescent bulbs? In China.

Immelt is so confident about his company’s “special” relationship with the Obama administration that, according to Fox News, he has “consistently argued to shareholders that there is big money to be made in advancing the Democratic agenda.” Not the American agenda. The statist, crony capitalist, corporation-nationalizing, Obama administration agenda. The one which most recently demonstrated that agenda by granting waivers from the health care bill to over 200 “favored” constituencies, including unions in favor of the bill.

How good are Immelt’s credentials regarding job creation? During his tenure, GE has seen a decline in the number of its employees, and its stock underperform the Dow and the S&P by 60%. More importantly, GE was given a $139 billion government bailout for its lending subsidiary, GE Capital, during the financial crisis.

Did Obama choose Jeffery Immelt for his cronyism or does the President really believe that Immelt will help create jobs. Is President Obama corrupt or just naïve and inept? Discuss!

Advertisements

4 responses to “Is President Obama corrupt or just naïve and inept?

  1. Interesting: we wrote something with nearly the same title:
    Inept or Adept

  2. Obama obviously doesn’t have a firm grasp of economics or history, all he knows is the Leftist propaganda that has been feed to him over the years. He also has no real world experience, spending his entire life in academia, activism and politics. So, to that extent, I say he is naive and inept.

    On the other hand, the Left has always been very willing to get in bed with dubious, even dangerous, individuals, organizations and movements if doing so might further their agenda in some way. The money Immelt can bring for Obama and the democrats certainly does that. So, there is an element of corruption to Obama, but that is okay in the Left’s worldview in which the ends justify the means.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s