General Motors, in Today's News 12.02.09

General Motors. When the central planners decided to take over General Motors, Frederick "Fritz" Henderson, a veteran GM executive, played a key role. He turned on his boss, Chief Executive Officer Rich Wagoner, a man who had been central to Henderson's advancement in GM, and joined the cryptocracy attack brigade. 

Henderson stepped forward and took the job of CEO, repudiating Wagoner, the GM policies of past times, and, in effect, his own history. He worked hard to play the game and do what his masters wanted, all with a smirk on his face.

And so, what was his reward for such craven loyalty to the cryptocracy? Yesterday, the government-appointed GM Board of Directors forced Henderson to resign!

Moral of the story: If you are going to play along with the cryptocracy you better know what you are doing. Appreciation for loyalty and work done is not the cryptocracy's strong suit. Their mode of operation is to cynically use people until they are used-up, and then just dump them.