Skip to comments.Charge of “Crony Capitalism” Rebutted
Posted on 04/26/2010 9:06:17 AM PDT by John Semmens
Former Alaska Governor Sarah Palins assertion that the Obama Administrations favoritism toward certain corporations is a manifestation of crony capitalism was rebutted by US Treasury Secretary Timothy Geithner, who argued that friends helping friends is something I was brought up to expect and respect.
Conducting a successful economic program requires cooperation and partnership between government and business, Geithner contended. Theres got to be an incentive to encourage businesses to act with rather than against the Administrations initiatives. Access to loans and subsidies is one incentive we have been using to try to induce business leaders to sign on to our program.
Geithner maintained that the Administrations approach was both legal and nondiscriminatory. Congress appropriated the money and gave us discretion on how to use it, he reminded. And whether any particular firm gets any of the money is up to them. If they cooperate we can reward them. So, if any firm can get in line to receive government money how is that cronyism?
Critics like Ms. Palin underestimate the potential impact of uniting the forces of government with leading businesses, Geithner added. We are building a juggernaut that will drive the economy to a new paradigm that these naysayers cannot envision.
(Excerpt) Read more at azconserv1.wordpress.com ...
LOL! Open and to the point. Friends are those who “cooperate” with obama.
And that makes those AMERICANS and ALLIES who do not “cooperate...???
What a mindboggling comment. He either doesn't “get it”...or worse, this guy is twisted. So are all the people he works with and all the liberal kool aid sluggers who continue to support this regime.
They can't actually make you do anything you don't want to do.
But they try to trick me with their illusions.
They can punish you when you're not cooperative.
(Waiting for the inevitable "I don't like satire and it should be removed from FR posts.)
Maybe some Photoshopper can modify these guys with Obama's, Geithner's and Bernanke's faces.
Timmy indicts himself and the administration with his own words.
I love these satire pieces, but the only problem I have with this is my desire to know: which part is factual and which part is made up. By contrast, Iowahawk did a great piece recently on “journo-political violence” that was done somewhat tongue-in-cheek (in response to lib media concern about Tea Party “violence”), but it was very well linked throughout to substantiating facts.
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