By the Left Coast Rebel
I don't have the Fox Business channel but I caught the first installment of Stossel's 6-part series, "Atlas Shrugged" on a weekend FNC segment. The first segment is relevant particularly because RightKlik has been noting Bain's crony capitalism history and in this episode Stossel interviews John Allison, Chairman of BB&T Bank. Allison and BB&T is one of a rare breed of today's businessman: a Rand fan, a vocal advocate for individualism and capitalism and one that does not get in bed with the incestuous crony capitalist-appeasing politicians on both sides of the aisle.
John Stossel's Atlas Shrugged, Part I (with John Allison of BB&T Bank):
"We believe that if we do the right thing for our clients in the long run we're be more successful."
For the record, BB&T took TARP money. Listen in at 7:00 for John Allison's take on that. If you recall back to the financial crisis, the feds (Bush treasury crook-crony Henry Paulson, etc.) forced even healthy banks to accept taxpayer-extorted TARP dollars.
Updated: Thoughts from Les Carpenter at Rational Nation:
John Allison has it absolutely right. He fully understands Rand's philosophy in the way she meant it.
Liberals are the group who should best understand Rand's philosophy. Unfortunately liberals today fail to recognize it is the classical liberalism of the late 18th and early 19th centuries that she channeled and carried into the 20th century and beyond.
It is quite revealing that a majority of Americans reject her philosophy. This is primarily due to the educational system which is slanted towards the collectivist mentality rather than the individual and merit based mentality from which Rand wrote.
After almost three years of blogging it has become rather apparent that while Rand continues to be a best seller, the result of her fictional Atlas Shrugged novel, few have actually read and understood the philosophical basis on which her fictional novel is based on.
It is unfortunate that our system is now geared towards the exact opposite of what Rand's valid philosophy advocated. For this I blame not only the liberals but conservatives as well.
Perhaps someday, after the decline of America and the founding principles on which it was founded collapses, the validity of Rand's philosophy will be revisited and actually understood.
Until then it WILL be a rocky road.