it's morning in america

Anti-Business Obama Puts Another CEO In Charge of America

  • Worship it harder.In a desperate bid to prove he worships Wall Street enough to be allowed to remain president, Barack Obama has appointed General Electric CEO Jeffrey Immelt to the new White House group that will decide if CEOs are being treated well enough. (Obama is also shutting down the economic recovery panel led by Paul Volcker.) It’s the latest move for a president who is extremely worried that some liberal on the Internet or all the voters who supported him in 2008 might think he’s some kind of commie softy who doesn’t know his place, which is to serve the nation’s biggest corporations with no questions asked. Obama went to the important “net roots” blog The Wall Street Journal earlier this week to assure his masters that the White House would aggressively target environmental laws and other potential problems for the American mega-businesses still doing some operations in America. And earlier this month, Obama picked a new White House chief of staff that better reflects his desire to be a better servant to Wall Street: JPMorgan Chase executive William Daley. [Politico/Wall Street Journal/Fair Warning]
  • Speaking of our new White House chief of staff, Bill Daley, he doesn’t have to pay taxes on his sale of $8.3 million in JPMorgan Chase shares. This is because of “government ethics rules.” [Bloomberg]
  • Meanwhile, legal arrangements are being made in the White House and in Congress so that all the bankrupt states can officially go bankrupt and screw both their creditors and their retired public workers. [New York Times]

About the author

A writer and editor of this website from 2006 to early 2012, Ken Layne is occassionally seen on Twitter and writes small books and is already haunting you from beyond (your) grave.

View all articles by Ken Layne
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    1. ChapterUndVerse

      Subsidized Time can only be next. David Foster Wallace, we salute you, a unrecognized profit prophet.

  1. Terry

    "Meanwhile, legal arrangements are being made in the White House and in Congress so that all the bankrupt states can officially go bankrupt and screw both their creditors and their retired public workers."

    Some of those same states are trying to screw their residents out of health care, too. Multi-tasking!

        1. Terry

          Well, corporations have a pretty long track record of killing or maiming people, too. Factory explosions (Bopal, Texas City (multiple times), etc), mining disasters (West Virginia(multiple times), etc), faulty or contaminated products (too numerous to list).

          1. OC_Surf_Serf

            Yeah..those Medians were much stronger than the Modes but eventually lost out to the Mean Empire.

          2. Ducksworthy

            Perhaps. But these corporate killings could only be accomplished with Govt. assistance, or at least acquiescence. Also.

          3. BaldarTFlagass

            I can't believe you guys are ignoring the all-time world champeen, millenium in and millenium out, of killing people: Organized Religion.

          4. glamourdammerung

            Organised religion could not have pulled the Holocaust off without corporate sponsor IBM even with a German government dedicated to defending Christianity against the heathens.

    1. Negropolis

      Forget about the racial element. These fuckers don't care who they steal from, and they will never be sated. Obama could privatize the treasury and they'd still be bitching about the government being mean to them. I say cut the fuckers loose and let them survive in the market they love to worship as some invisible god.

  2. V572625694

    Time to trot out Jack Welch's divorce settlement again. How many stockholder zillions had to be conferred upon his wife again because Jack took a shine to the Harvard B-school magazine editor who interviewed him?

    There's so much to learn from corporate America! They are our true heroes!

  3. SorosBot

    Goddammit, Obama, stop listening to the slanderers in the mainstream media and give our nation's CEOs what they deserve: a one-way ticket down to Gitmo and the full Cheney treatment.

  4. Ruhe

    Good news for Obama! He can be the environmental issue push over that Big Industry wants him to be since it turns out that Global Climate Warming is all really the fault of…wait for it…the Sun! And the Sun's pesky cosmic rays, which it sends to us lovingly without realizing how much it hurts our Industries by scaring all the climate-simpletons out there into thinking that the sky is falling. Obama should promise the industrial lobby that he'll give the Sun a stern talking to right away and maybe even withhold the state dinner the Sun is expecting.

    1. SorosBot

      Ah yes, the old "the sun is responsible for global warming" bullshit. It is true that the sun is slowly getting hotter which should effect the Earth's climate; but the key word is SLOWLY, as in that there's no noticeable difference below the scale of several tens of millions of years.

  5. prommie

    Have you read Griftopia, Layne? This is the function of the federal government, to serve its corporate masters.

  6. charlesdegoal

    It's as though once elected, the staunchest advocates of social justice would have some kind of epiphany and become firm believers in the ability of capitalism to cure society's ills. Either that or power corrupts.

    1. Ducksworthy

      Power corrupts? Also, threat of assassination probably enters into it. The Mafia dons are really the same as the other captains of industry, just with more colorful nicknames.

  7. Tundra Grifter

    At the risk of being serious on a Friday morning: If states can go BK and screw their bondholders, investors will shed the tax-free munis they are now holding and buy US government debt.

    Gov. Jerry Brown here in California wants to wipe out redevelopment agencies. What happens to all that debt?

    This has to drive up interest rates, no matter how hard the Fed strives to keep them down.

    Mississippi still can't find buyers in England because of its default on bonds issued to support a state bank – and I believe that was circa 1830-1840. Those bondholders spent about one hundred and thirty or forty years trying to collect.

    1. mereoblivion

      Which days is he Batman, again? I must be dozing through those. (Or, as Bill Daley would say, Dozing tru doze.)

  8. TheHigherSpread

    You know, my chief observation about Dubya and why he provoked so much panic was that he wasn't necessarily doing anything that other presidents hadn't done previously — the National Security State was humming along quite nicely for five decades — but that he was so fucking transparent, obvious, and clumsy about transforming several arms of the government into the Ministry of Love that there was no alternative to scream at him. The illusion had shattered, and only those who were prone to denial couldn't see that the hammer was coming down.

    Obama's doing the same thing. The business of America has always been business, but at least other presidents and administrations could hedge or dodge. Not our boy Obama! The Middle-Manager-in-Chief just cold doesn't care.

    1. SorosBot

      We had a few (even more incoherent than usual) comments from the name-changing troll yesterday, so I'm guessing he's still lurking around, downfisting us and waiting to make some nonsensical unfunny "joke" that probably refers to some wingnut conspiracy theory or meme no one outside those insular circles has ever heard of.

  9. horsedreamer_1

    Thing about state pensions: the largest share go to retired cops, sheriffs, & prison-guards, & they vote — Republican.

    No way the Job-Kyling Senator from Arizona & his minions will want to rile up those armed & angry white men. (Oh, who am I kidding? The GOP will blame it on the costs of incarcerating all that darkness, then wink-wink-nudge-nudge the Falangists into taking out their ire at that fact against the Darkness currently squatting at 1600 Pennsylvania Avenue.)

    1. ChapterUndVerse

      Story in my area recently: brouhaha over the loss of free Fox programming in the offices at the district courthouse. Replaced with CNN, which is insufficiently patriotic, fair, and balanced, evidently. Word is that all the screens will go black if they all don't STFU about being able to watch TV on the taxpayer's dime.

  10. baconzgood

    And still Glenn Beck will call him a socialist. I'm glad GE is advising the prez. As you know GE is the most nicest, moral, social concious, prettiest and trusted company in the history of the universe….I love GE and they smell soooooo nice.

      1. SorosBot

        Now that the sale of NBC is just about done, we'll see if Commcast decides to interfere. The shitty way they treat their customers and the fact that their headquarters (the tallest building in my city) looks somewhat like Barad-dûr fills me with confidence.

    1. freakishlywrong

      Trolls don't need to, the "librul" media will report it as such. Because an "arancho-capitalist " comic book dealing gun-nut just screams "far left loon".

    2. SorosBot

      Knowing our media, this will be used to tar comic book fans instead of anti-government gun nuts. Or just ignored, like the MLK parade attempted bombing.

      1. glamourdammerung

        The bad part about the MLK parade bombing is that I did not immediately call it as a teabagger until the feds commented on how ineptly the device was made.

    3. GOPCrusher

      Considering how much they rail against the "government" when there is a Democrat or Democrats running it, not sure how their little brains process the information that anyone that is anti-government and arrested, is a "leftist".
      A comic-book dealer? I'm sure he was one of those small business owners that they were trying to convince the American public would go away, if they weren't given more tax cuts.

  11. lefty74

    Invision happy little cute elephant cubs dancing in the rain with the birds cherping and flowers abloom. Yes the Madison Ave. version of GE and Wall St. (HURL)
    Can't fiire 10% of the workforce every year in all walks of life Mr. Dickhead Immelt.

    1. Rotundo_

      Ah, yes, rank 'n' yank, that lofty H.R. tactic for helping people grow, elsewhere, unless you're well loved by upper management. It is amazing how they believe that lopping 10% of your staff yearly (cutting that deadwood) helps. It turns review time into an annual dead pool, which can't help but boost morale and productivity! Work every minute like your life depends on it, 'cause it does, motherfucker! The geniuses that came up with this "philosophy" will smoke a reeeeeaaallllllyy big turd in eternal hell if such a thing existed. Unfortunately it doesn't and they instead bask in comfort and security, and sleep peacefully and soundly every night.

  12. neiltheblaze

    Oh goodie – now maybe Republicans will stop calling him a Kenyan fascist communist Nazi now that they understand he quivers at Wall Street's loins just like they do.

  13. dr_giraud

    The Preznit is meeting Immelt today at GE in Schenectady, which is hilarious and apt, because GE has been downsizing, insulting and shitting on Schenectady with ruthless efficiency for decades. Immelt will draw on this wonderful legacy to forge a vision that maximizes corporate efficiency in downsizing, insulting and shitting on the rest of America.

    1. kenlayisalive

      Oh to dream. If everyone could drag his/her ass out of starbucks/neighborhood hipster bar and onto the streets, we'd probably have something.

      But that won't happen.

    2. Oblios_Cap

      We're too Exceptional to get off of our fat asses and actually protest, much less riot in the streets.

  14. BarackMyWorld

    You see, this just proves Obama is a socialist. He's putting CEOs in charge of the government so when the government takes over the corporations the transition will be easier because the same people will still be in charge.

    **millions of dittoheads and tea partiers nod in agreement**

  15. slowhansolo

    Remember when Bubba drifted center to save his ass? Same thing, except Barry's starting from the center. According to Michael Reagan, in a recent column, all blacks live conservative but vote for Democrats, for some reason.

  16. Negropolis

    Obama is the most needy president I've ever seen. Gawd. Maybe, we should ignore his calls and texts for the next few days so he gets the hint.

    You know what happens when you try to straddle a picket fence to carefully? Sometimes, you actually find the middle…and fall on it. Speaking of which, a deer impaled itself on the gate of Eminem's mansion in suburban Detroit the other night. Or, at least that's his story and he's sticking to it.

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