Nov 072010

So President Obama has been making business deals in India. No wonder capitalism gets a bad rap, if that’s how it works. I think it’s called crony capitalism when deals are made on the basis of connections.

He’s certainly not the first politician to do this. The last two governors of Michigan, one from each major party, have also acted as though this is appropriate behavior.

But if businesses can’t make these deals themselves without intervention from politicians (and what legitimate consideration could a politician possibly offer to sweeten the deal?) then it would seem that our news media need to be investigating. Maybe new laws and regulations are needed, or maybe bad ones need to be removed. But there is no news that any of that is getting done in the wake of the President’s visit.