But where are GE shareholders, who are technically the legal owners of the company? Where is THEIR PAC?

They, and shareholders in other listed companies, are generally nowhere to be seen, because the limited liability grant to shareholders encourages them to keep a distance, and to let management get involved in activities that may be profitable but shift risks to nonconsenting third parties. The result has been an escalating cycle of risk-shifting, reaction by citizens, regulation, and further rent-seeking by management – an enshrinement by the Supreme Court of #CorpSpeak

But is this dynamic anything that really concerns you, or do you only care to protest the rent-seeking that you dislike?

As for GE, I’ve said before and I’ll say again, GE is an embarassment. This news all but proves their new “save the world” mission statement is a front for “save our company”. And their shamelessness about their inability rescue their company through any means of their own should be a HUGE warning sign for investors. For a company with a history and name like GE has built, their current position should be a disgrace to them. But instead they are talking up their new government-welfare business plan with all the adjectives usually reserved for celebrations and grand openings. It’s absolutely pitiful, and I like many investors have run like hell from any long positions in GE. If nothing else, I would feel too guilty making money off a stock whose price was supported by poorly directed taxpayer funds.

The only shame is that GE was once the poster boy for American manufacturing and quality. Now that they are taking a proud place in the welfare line, what does this say about America itself. GE is one of those rich corporations who we were going to tax to pay for our social programs. Now that they look to become recipients themselves, what is the plan?

Obama?