A ‘Truly Breathtaking’ Departure
Has Obama officially ushered in a new era of government-controlled business?
By Larry Kudlow
Team Obama fired GM CEO Rick Wagoner Sunday afternoon, just a short time after Treasury man Tim Geithner told the television talk shows that some banks will need large amounts of new TARP-money government assistance — even though the bankers don’t want it. Does this smack of big-time government planning and industrial policy? Another lurch to the left for economic policy?
Remember, as bad as Wagoner’s performance has been over the years, it was the federal government — not shareholders or the board of directors — that threw him under the bus. (By the way, GM’s board is being thrown under that same bus.) And I’m not arguing in favor of Wagoner or his board; they’ve made a zillion mistakes. But I am wondering if we’ve officially entered a new era of government-controlled business.
Very interesting article. On top of that, there is also speculation Obama may
fire bank CEOs as well. Government control of private business is
Fascism (which is a leftist ideology, to remind any lurking moonbats) by definition. I do hope America wakes up before too much damage is done, but all of this has happened within the first one hundred days; the time between now and the mid-term elections will be a nightmare.
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