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Crony Capitalism Gone Wild: Duke Energy CEO Backs President Obama

Anthony305 Wrote: Oct 03, 2012 11:23 AM
The stockholders in companies like Duke and the pharmaceutical outfits, whose execs sold sold them down the river by backing Obamacare for a temporary financial advantage, need to fire their management. The policies these people have supported, in a few years, will obliterate whatever they got in short-term gains (and maybe their companies, as well).

Duke Energy CEO Jim Rogers sets a new standard for crony capitalism. While the vast majority of crony capitalists are pragmatic businessmen who pursue a partnership with President Obama for purely financial reasons, Rogers is a different breed.

Most CEOs are political agnostics and see cronyism as a shortcut to bypass the competitive free enterprise system to a pot of gold. These business executives walk a political tight rope, trying to balance the benefits of political favors against the risk of drawing media scrutiny and controversy of looting the public treasury.

For Jim Rogers, passion for progressive politics appears as...