Very scary.
Question: How could the government fire the CEO of a private company? How is this remotely healthy for the free market system?
The automakers should never have asked for the cash. They should have restructured. All they've done is become slaves to the government and its agenda. It's inconsequential if Wagoner was seen as "incompetent" (GM has a pretty good shot at overcoming the mess), what's disturbing is the government essentially firing the CEO of a publicly traded company.
America is not on a good path.
Not from where I sit.
Freedom and the free enterprise system continues to be under attack.
Keep your shirt on Commentator. Those guys, aboard company jets, flew into Washington hat in hand begging for taxpayers money. Technically the taxpayers now own GM and Chrysler. He who pays the Piper calls the tune goes the saying and when the Piper is bad, as Wagonner was, he gets fired, like anybody else.
ReplyDeleteBah. I was wearing a sweater.
ReplyDeleteAs you know, I was never in favor of the bail out. I said from the start they should have filed for Ch. 11.
I still think this is a ridiculous thing to do. He didn't need to go this far. If the stupidity of bail outs didn't happen we would be spared the idiocy of a public servant firing a person in the private sector. I'm not buying any of the rubbish excuses. It's enough. Just because there were a few rotten apples doesn't mean the system is a) broken and b) government should intervene.
I believe in the people by themselves and not vicariously through the government should fix it.
It's just another example of government expanding.
Bush eroded freedom in the name of security and Obama is doing it for economic stability.