America is a country that was built on capitalism and merit. If you have a good idea and the drive to make it succeed, you will be rewarded with the so-called American Dream. But now that dream is turning into a nightmare.
Yesterday word came down that General Motors CEO Rick Wagoner was asked by President Obama to tender his resignation effective immediately, which he did. The President of the United States effectively fired the CEO of a publicly traded corporation.
There are some who will say that President Obama was merely practicing risk management. If the government is to hand over large sums of bailout money to keep the automakers afloat, then the government should have the same rights as any other lender and decide on the terms of the loan - up to and including who will administrate it at GM. However, President Obama's actions set a dangerous precedent. He sidestepped a governing board of directors of a major corporation in order to unseat the CEO.
There has been a lot of disagreement in what the government's role should be in regards to the Big Three automakers - Ford, General Motors and Chrysler. Many have said that the companies should seek bankruptcy protection instead of raiding the government coffers. Ford has turned down the bailout money and said they would go it alone for as long as they could. But the other two companies did not want to face the government and judicial scrutiny that comes with Chapter 11. Instead they wanted bags full of 'free' cash from the government treasury. They made a deal with the devil and now they are paying with souls.
At what point does 'bailout' become 'buyout'? If the automakers - despite the bottomless coffers of the Treasury - cannot make a go of it after all, will the government simply buy out shareholders at ten cents on the dollar and nationalize the companies? It is a question this Examiner never thought she would have to ask of the Land of the Free, but it is becoming a very real possibility.
Comments
I am not sure what other option Obama had short of letting the company go bankrupt. Clearly, GM And the Unions are not getting the severity of the situation and are negotiating contracts which still make no sense economically. Wagoner's fate may help GM and the Unions get focused on reality and may unlock the negotiation so that the unions finally start negotiating in good faith.
It is a terrible, yet necessary move.
What would you expect Mr. Wagoner to do? He is a fairly bright man I imagine and could see the writing on the wall. In socialist countries when Comrade President says do something you do it or really bad things tend to happen. Joe the plumber only lost a bunch of money when he crossed him over almost nothing. For something this big the repercussions could be really bad. Look how things took off in Russia when the commies first took over. Like I said. He saw the writing on the wall.
I try to look for the good in everything (and it can be a challenge), this could be a warning to other CEO/execs looking for taxpayer’s money to maintain their situations. Perhaps the next CEO will think twice before they prostitute themselves to government and in a small way, this may stem the tide towards socialism?
The Unions brought about this collapse. Just as the our school union in California ruined our schools, the automotive unions ruined our car industry. Let them go bankrupt- I do not want to support with my tax dollars their over paid executive or their lazy union employees-
Unions served a purpose back in the early 20th century, but they have run their coarse. People should get paid for their productivity.
Obamafascist and politicians like him will squawk about protecting jobs and the economy, but if Obama, the big three and the UAW got their way a Honda Civic would cost $50,000 dollars and be built overseas. They would give you a deal on a Ford Pinto, Chevy Vega or Chrysler K-car for $45,000 though!
Philanthropist- you are right in that we are seeing Fascism being born right before our eyes if you look at the definition. The government getting direct control of Private businesses, banks, expanding entitlments etc.
I bet this was not the change all those people with the sign had in mind-that is Mussolini style government- Maybe Obama will make the "planes" run on time though.
Just gotta laugh you guys, Obama is a Fascist? Hmmm, I thought he was a constitutional scholar...I got a feeling you guys might not know what you are talking about.
Is he a Fascist? or a Socialist? He can't be both as these are opposite forms of government. It seems that the lack of a proper education has allowed you to hold contradictory positions without any warning light going off in your brains.
I'm going to have to ask for proof of any actual "knowledge" you buffoons spout out...
Clinton- Look up the definition of Fascist and report back to us. In case you don't know Hitler was a National Socialist- His policies were big government intervention into business and private life. I'm not saying Obama has evil intentions, but he could be planting the seeds down the road for someone that might.
So Clinton before you call some one "a Buffoon" make sure you know what you are talking about. Remember that Nazi's and Fascist are not conservatives they "were" socialist by definition. The most assasination atempts against Hitler were from conservatives by the way- hate to give you another history lesson- but I like you and your well worth it.
Seriously, too much Jonah Goldberg rots the brain...
"Many conservatives accuse Hitler of being a leftist, on the grounds that his party was named "National Socialist." But socialism requires worker ownership and control of the means of production. In Nazi Germany, private capitalist individuals owned the means of production, and they in turn were frequently controlled by the Nazi party and state. True socialism does not advocate such economic dictatorship -- it can only be democratic. Hitler's other political beliefs place him almost always on the far right. He advocated racism over racial tolerance, eugenics over freedom of reproduction, merit over equality, competition over cooperation, power politics and militarism over pacifism, dictatorship over democracy, capitalism over Marxism, realism over idealism, nationalism over internationalism, exclusiveness over inclusiveness, common sense over theory or science, pragmatism over principle, and even held friendly relations with the Church."
Sorry, Mark, I'm afraid you pulled your previous "information" out of your backside...
Clinton- you did not do your home work!
I don't have time to address all of the stuff you lobbed out but here are a few points.
In socialism workers do not control the means of production- You are thinking of communism.
Socialism is the intrusion of big government into the private sector and private lives.
The national socialist were racist, but socialist nonetheless. The Nazi's intruded into BMW, Daimler Benz and other companies and made them subservient to the state. The Nazi’s created huge entitlement programs, they regulated pay, had price controls etc.
They also regulated and controlled education shutting down private, catholic and other schools.
I would seriously encourage you to read history Clinton as you’re coming across as though you are in junior college. If you look back at the rise of Hitler you would know that he eliminated the communist, social democrats and conservatives. As I mentioned it was the conservatives that opposed him the most and many died.
You alluded that Hitler had the blessing of the church but most of his stiffest opposition was from Christians just look at Sophie Scholl, Dietrich Bonheoffer and others who were executed for opposing Hitler.
I'm not saying that we'll be shouting Heil Obama anytime soon, but the groundwork he is laying could make it easier for someone down the road that has more sinister intentions.
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