Steve Milloy, a pro-free market investor at the Free Enterprise Action Fund, obtained this e-mail and says it reveals General Electric for what it really is. "GE is lobbying to become the biggest rent seeker this country has ever seen," Milloy told this column. Rent seeking is using government legislation or regulation to generate private profits the free market wouldn't provide.
"On climate change," Rice wrote, "we were able to work closely with key authors of the Waxman-Markey climate and energy bill, recently passed by the House of Representatives. If this bill is enacted into law it would benefit many GE businesses."
Most of all, Waxman-Markey would profit a GE joint venture called Greenhouse Gas Services, which deals in greenhouse gas credits, products that have value only if a cap-and-trade bill like Waxman-Markey passes.
The leaked e-mail shows how tightly GE connects PAC contributions and lobbying efforts. "Our Company is heavily impacted by a number of issues pending in Washington this fall," Rice wrote.
Friday, August 28, 2009
GE, they bring Govt Corruptionl to you!!
Large Corporations and Large Labor Unions are buying extraordinary influence in DC everyday. Unlike big labor, which gives almost exclusively to Dems, big business is completely agnostic. They will corrupt whoever is in power to get a piece of the action.
Posted by Ben Cunningham at 7:32 AM