In a letter sent to donors and supporters by the Obama campaign last year, First Lady Michelle Obama
promised that the 2012 Democratic National Convention would be “a
different convention for a different time.” Little did we know that the
time she was referring to is the Robber Baron era.
While many of the president’s local supporters were excited about Charlotte, N.C., being selected as the host city for the 2012 DNC, no one was jumping for joy more than James Rogers, the CEO of the Charlotte-based energy conglomerate Duke Energy. Rogers was a major proponent of many of the administration’s efforts on energy and environmental policy, and a deafeningly vocal advocate of Cap and Trade legislation. But there are always two sides to the coin. Economist Bruce Yandle referred to it as “Baptists and Bootleggers”.
Baptists and Bootleggers both supported Prohibition, but did so for very different reasons. Baptists pushed prohibition for the greater moral good (as they saw it), while Bootleggers supported it because they made their money on illegal booze. When it comes to energy and environmental policy and the economic recovery, Rogers isn’t the Baptist here. He and Duke Energy are Bootleggers.
Read more: http://www.forbes.com/sites/mattkibbe/2012/08/27/obamas-crony-capitalist-flip-flop-with-the-democratic-national-convention/
While many of the president’s local supporters were excited about Charlotte, N.C., being selected as the host city for the 2012 DNC, no one was jumping for joy more than James Rogers, the CEO of the Charlotte-based energy conglomerate Duke Energy. Rogers was a major proponent of many of the administration’s efforts on energy and environmental policy, and a deafeningly vocal advocate of Cap and Trade legislation. But there are always two sides to the coin. Economist Bruce Yandle referred to it as “Baptists and Bootleggers”.
Baptists and Bootleggers both supported Prohibition, but did so for very different reasons. Baptists pushed prohibition for the greater moral good (as they saw it), while Bootleggers supported it because they made their money on illegal booze. When it comes to energy and environmental policy and the economic recovery, Rogers isn’t the Baptist here. He and Duke Energy are Bootleggers.
Read more: http://www.forbes.com/sites/mattkibbe/2012/08/27/obamas-crony-capitalist-flip-flop-with-the-democratic-national-convention/
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