So, now what? Since the Obama administration, with the approval of Congress, has gone into the banking, insurance, and automotive industries, what’s next?
To me, the most amazing part of the whole thing is that anyone is actually surprised that the feds have flexed their muscle and pushed out the CEO of GM and demanded Chrysler partner with Fiat.
What did people think would happen when the government gets involved in private industry?! Perhaps now that Rick Wagoner has stepped aside, we can change his succesor's title from Chief Executive Officer to something more appropriate. I know, BRHM (Barrack’s Right Hand Man). After all, the title should fit the requirements of the position. We know now, that President Obama is the real Chief Executive.
I don’t want to get into a political rant, but when businesses go begging for federal funding, it shouldn’t come as a surprise to anyone that political stipulations will naturally follow. Of course the Obama administration would prefer to print up more money for GM and Chrysler than see them file for bankruptcy. I’m sure that widespread renegotiation of their UAW contracts would play well at the next DNC luncheon.
Hey, I’m not telling you what to believe politically. That’s your business. But, if you are a Blue Dog Democrat who loves Corvettes, Challengers, or some other manner of muscle car, you should be advised that your party is probably going to phase out your beloved toys in favor of more environmentally friendly choices.
Maybe now that the federal government is making decisions for struggling American businesses, we can expect the same kind of budgets that they employ. Do you think that GM could run annual deficits to the tune of $1 trillion per year? Now that there are plugged in to Federal money, they can just print more! --- Marcus Tapscott