Assigned Reading: How a Loophole Benefits GE in Bank Rescue
(FROM: The Washington Post)
I don’t think that the average American citizen understands exactly how many different things General Electric is involved in, and how many different ways this president and administration are working to make GE more powerful.
For example, in terms of health care, General Electric has appointed Tom Daschle, the president’s first choice for HHS secretary, to the board of Healthymagination, a program which will invest in the development of “health care innovation that will help deliver better care to more people at better cost.” Daschle, of course, is a large advocate of health care rationing. From a Washington Times commentary penned on May 11, 2009 by Nick Rizzuto and radio commentator Andrew Wilkow:
In 2008, Mr. Daschle wrote the book “Critical: What We Can Do About the Health-Care Crisis” in which he explains his radical solutions to the problems in American health care. In the book, Mr. Daschle calls for a British-style Federal Council on health care.
The profitability of GE’s new venture will depend heavily on the nationalization of the health care industry. The standardization and streamlining of health care recordkeeping, something on which Mr. Obama ran in 2008, would require a massive government contract for the technology to achieve such standardization.
Mr. Obama has introduced a plan to computerize all health records within five years. Independent studies from Harvard, Rand Corp. and the Commonwealth Fund have estimated that such a plan could cost at least $75 billion to $100 billion over the next 10 years. Healthymagination is readying just such a technology, claiming that they will seek to “increase the use and capability of electronic medical record (EMR) technology and other information technology.” With Mr. Obama’s ally Mr. Daschle on board, Healthymagination is sure to have more than a leg up on its competition when it comes time to dole out these massive contracts.
Under the cloak of corporate responsibility, General Electric seeks to benefit to the tune of billions from the passage of Mr. Obama’s health care reform. On its corporate Web site, Healthymagination admits it will use every tool at its disposal to achieve its goals, including NBC Universal, the parent company of MSNBC which offers nearly uncritical coverage of Mr. Obama and his policies.
In terms of all things energy, General Electric is heavily vested in alternative energy, building everything from fuel efficient jet airplane engines to hydropower facilities to wind turbines. Why else do you think that everything is about being “green” on NBC, the network owned by GE?
In the Assigned Reading piece, it’s becoming obvious that GE stood to benefit from from the actions taken by the Obama administration to supposedly stimulate the economy and bail out banks. To be fair, it wasn’t all the Obama administration, either — the Bush administration was in there as well. The problem now, though, is that the energy-healthcare-media conglomerate now has a beloved president to appease it, and you can expect that GE will provide any propaganda help it can through NBC, NBC News and MSNBC.