Posts Tagged ‘Givernment and business leaders cooporation’

Connect the dots: The free market canard

March 30, 2011

There is a place where light can not make it through and it is not a black hole in outer space. It is the space between our business leaders and our government.

Fact 1: GE is the single largest company in the US.

Fact 2: GE made $13.5 billion in profit last year.

Fact 3: GE didn’t pay a penny in taxes on its profit. In fact, it is asking the federal government for $3.2 billion in tax rebates!

Fact 4: Back at the end of 2008, Bloomberg reported that the U.S. government had agreed to insure an additional $139 billion in GE Capital’s debt holdings, the second such intervention within a month.

Fact 5: GE’s CEO, Jeffrey Immelt, is the head of the president’s team of economic advisors.

Fact 6: Anyone who thinks we have a free market economy is utterly blind.

Disclosure: The New York Times’ David Kocieniewski broke the GE profit story.