While looking at a list of Fortune 500 companies -- American companies ranked by annual revenues -- I noticed something odd at the top of the list that made me shudder.
Five of the ten biggest companies in America are Fannie Mae, General Electric, Berkshire Hathaway, General Motors and Bank of America. Anything strike you as not-quite-right on that list?
These are companies which have become intimately tied to American government; either run by our government or in bed with our government. And what do they call it when governments and corporations work hand in hand to control wealth and power, and pick winners and losers? They call that fascism.
"Fascists have an agenda that is primarily economic. As the Free Dictionary notes, fascism/corporatism is 'an attempt to create a 'modern' version of feudalism by merging the 'corporate' interests with those of the state.' " -- The Ghost of Vice President Wallace Warns: "It Can Happen Here" by Thom Hartmann
And while the aforementioned article has a secondary goal of casting aspersions on Republicans, it's pretty obvious that Democrats with fascist inclinations are equally effective in destroying free markets, the very basis of capitalism.
Here are some examples of the intricate and warped corporate/government interactions of those five powerhouse Fortune 500 companies:
Bank of America and Fannie Mae -- Can you say "bailout"? The U.S. government swooped in and rescued Bank of America and Fannie Mae from financial ruin during the 2008 Financial Meltdown.
"Bank of America has received another $20 billion from the federal government's bailout fund, along with guarantees on $118 billion of assets at the bank, to absorb its recent purchase of the ailing Merrill Lynch," reported CNN Money in BofA: $20B bailout, huge Merrill loss.
Get the Market Movements in Advance: William's Edge Webinar for Wednesday, March 12th, 2014 | John Ransom