Charles Gasparino:
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... Immelt's selection underscores the inherent flaw in Obamanomics: It favors the crony capitalists at the banks and large corporations that feed off government bailouts and contracts at the expense of entrepreneurs and small businesses, who in the past have pulled the nation's economy out of recession and created jobs.
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While
GE has been sucking up to the Obama administration its performance has slumped. It has certainly not be an engine of employment and prosperity in recent years. If Obama likes GE, Jack Welch would have been a better choice.
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