Despite this apparently dire moral and philosophical lapse, I'm sure the ARI won't be turning down Allison's cheques any time soon.
Thursday, November 27, 2008
Hoisted from Comments: Atlas Begs
It turns out there are no true Randian individualists in foxholes. Sharp-eyed commenter Michael Prescott notes West Virginia's BB&T bank has recently put its hand out for $3.1 billion in Federal rescue money. What makes this ironic is that its CEO, John A. Allison IV, is a big time contributor to the ARI, and makes reading "Atlas Shrugged" compulsory for all his executives. This capitulation, accompanied by statements about how doing so is "consistent with our values and philosophy" and supporting the Treasury's interventions to stabilise the economy, has led to a minor flurry of hand-wringing ( here, here) at the ARI's Center For The Advancement of Capitalism, with conspiracy theories being mooted that Allison was "coerced" into making such statements.