Hi Everybody, http://www.weeklystandard.com/articles/just-way-business-works_595938.html
“There are no guarantees in the business world about success and failure,” lectured White House press secretary Jay Carney in September. Carney, whose knowledge of the business world comes from 20 years as a journalist and a few as a press flack, added, “That is just the way business works, and everyone recognizes that.” Former White House chief of staff Rahm Emanuel, now mayor of Chicago, who has spent a whole two and half years in the private sector, told a Chicago radio station last week, “Like venture capital, sometimes you’re right, sometimes you’re wrong, and that’s unfortunate. Nobody takes losing money easily.” And President Obama, who disliked his post-college year at a consulting firm so much he wrote in his autobiography that it made him feel “like a spy behind enemy lines,” said in his October 6 press conference, “There were going to be some companies that did not work out. Solyndra was one of them." "See? Wasting hundreds of millions of taxpayer dollars, bending the rules to favor client groups, disguising rent-seeking and self-dealing behind an environmentally friendly green banner—“that is just the way business works.” No big deal. "Except it really is a big deal, and one that shows no sign of shrinking soon. The administration’s line of argument is therefore illuminating in two ways: It shows how little the men operating the federal government know about free enterprise. And it implies, quite unintentionally, a familiarity and comfort with a system of relations between the public and private sectors that makes most Americans blanch—and drives some into the streets. "The fact that the president and his senior staff poorly grasp the distinction between private capital and taxpayer guarantees is nothing less than depressing. For the umpteenth time: When an investor risks his own money on a company, he is the only one that loses if the company goes belly-up. Yet when the government backs a firm, it privatizes any gain while socializing the risk. ” (selected from a two page article) -- Regards, Pete http://pete-theisen.com/ http://elect-pete-theisen.com/ _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
