… go against the market in trucking with the government.
(Page 2 of 2)
He [Emanuel] recalled that Mr. Dimon once phoned to protest the anti-business populism taking hold as voters tired of bailouts, and snapped, “Washington doesn’t get it!” “You guys don’t get the anger out there,” Mr. Emanuel replied. “Jamie, you’re asking then American people to bail out the industry. And if they’re going to bail out the industry, it’s got to change its habits.”
With its lofty motto of “All the News That’s Fit to Print,” we must assume that the New York Times demurely deleted all the F-words that studded at least one side of the conversation.
Of course, another part of being in the government relations business involves making the right noises about the environment, diversity, etc. And the darling Jamie does not disappoint here either. Among other bits of gratuitous information, we learn from the JP Morgan website that the bank’s “portfolio includes interests in 54 wind farms as well as several solar projects that together can power close to 1.5 million U.S. homes annually.” There is no mention of how many coal-fired electrical generating plants are in the “portfolio,” or how many U.S. homeowners have them to thank for cheap and abundant energy.
IN THEIR DREAMS OF revving up the economy, saving the planet, and meddling in the nation’s politics and social affairs, the three CEOs seem to have lost sight of the basic idea that the business of business is business. They may think they are gaining “a seat at the table,” but what they are really doing is playing a sucker’s game in inviting further intervention into the marketplace by people who have no respect for the marketplace.
A long time ago, Milton Friedman pointed out why he distrusted businesspeople who run on about the “social responsibilities of business in a free-enterprise system.” It is because “the doctrine of ‘social responsibility’ involves the acceptance of the socialist view that political mechanisms, not market mechanisms, are the appropriate way to determine the allocation of scarce resources to alternative uses.”
This is certainly the case with the Obama administration, whether one is talking about job creation, economic stimulus, health care reform, trade policy, limiting carbon emissions, financial and auto company bailouts, or changing the rules to make it easier for unions to monopolize the supply of labor at more companies.
Absolutely the last thing that this government wants to do is to
encourage market mechanisms at
the expense of political mechanisms.
Jamie and Jeff and Mikey-you can trust me on this one.
But maybe you still don’t get it. So let me be real clear: BEWARE THE BIG BAD WOLF. He may act nice…but he really doesn’t have your best interests at heart.
A man of faith in a godless age is hitting Americans where it hurts.
Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
In Britain, defending your property can get you life.
The debacle of this president’s administration is both a cause and a symptom of the decline of American values. Unless Congress impeaches him, that decline will go on unchecked. An eminent jurist surveys the damage and assesses the chances for the recovery of our culture.
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
The American Christmas, like the songs that celebrate it, makes room for everybody under the rainbow. Is that why so many people seem to be hostile to it?
Was the President done in by the economy, or by the politics of the economy?