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Crony Capitalism Gone Wild: Duke Energy CEO Backs President Obama

TopGunn Wrote: Oct 03, 2012 8:15 AM
PLEASE! Stop calling it "crony capitalism". It is not capitalism. It is simply "cronyism".

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...