John Smyzer's Ramblings

Saturday, June 16, 2007

Hypocrisy At It's Best

Over the years, often times I have used the phrase 'I am not a hypocrite' when refusing to do, or back something, some idea etc. In point of fact, were someone to analyze my daily doings, there would be evidence of hypocrisy in different areas. Might even be illuminating to have someone point those areas out.... however, there are hypocrites and then there are hypocrites.

The former president and his wife liquidating the contents of their 'blind trust' reveals hypocrisy to the highest possible descriptive. Forget the fact these folks went to Washington with nothing and today are worth mucho millions (little lingo there preparing for takeover). "Blind" in these matters means only they have no immediate control over the assets, it does not mean they are not aware of what they are invested in (to my knowledge anyway).

Okay, so what are some of these companies? Pharmaceutical companies, including $250,000-$500,000 in Biogen Idec and Johnson & Johnson and $100,000- $250,000 in Amgen, Pfizer and GlaxoSmithKline. It also invested in General Electric and Raytheon, two leading defense contractors. The trust had a varied portfolio, with investments in numerous other companies, including Exxon Mobil, BP Amoco, Walt Disney and eBay. Does anyone besides me see any hypocrisy in some of these companies? I doubt it actually. And it's O.K. - we will get what we want, when we want it.

BTW - as a retired Raytheon employee, it gags me to think they invested in my company - based on what they actually say and do, I always thought they'd rather see us go under - oh, I forgot the hypocrisy. I guess it's O.K. - I sold all my Raytheon stock upon retirement.

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