[Gene Eric]

>> this is something worse- crony socialism

Yes, it’s called fascism — something Hitler embraced.

[Mr. K]

Definition of FASCISM
1 often capitalized : a political philosophy, movement, or regime (as that of the Fascisti) that exalts nation and often race above the individual and that stands for a centralized autocratic government headed by a dictatorial leader, severe economic and social regimentation, and forcible suppression of opposition

2: a tendency toward or actual exercise of strong autocratic or dictatorial control < early instances of army fascism and brutality — J. W. Aldridge >

— fas·cist \-shist also -sist\ noun or adjective often capitalized
— fas·cis·tic \fa-ˈshis-tik also -ˈsis-\ adjective often capitalized
— fas·cis·ti·cal·ly \-ti-k(ə-)lē\ adverb often capitalized
The CRONYISM component is new for Obama