The Obama administration has forced the longtime head of General Motors to resign and said yesterday that it would withhold additional federal aid to the auto industry unless the ailing companies undertake changes they so far have been unwilling or unable to make.
The administration effectively rejected as untenable the business plans that GM and Chrysler had submitted to restructure their companies, saying that neither had fulfilled the terms of the federal loans the companies received in December.
The president is expected to announce today that both companies may still win additional federal aid but under stricter terms.
I guess my question would be, if they can force GM’s CEO to resign, why are we not hearing the same regarding the financial industry? Could it be because of who Obama got his campaign funding from? Compare that figure to what he got from Labor, and you can see whose dance card he’ll be on.
And if the White House can force GM’s CEO to step down, does this mean we taxpayers now own General Motors? Because I’ve never heard of government being able to force a private industry resignation. Ever. I am open to being corrected here.
It’s certainly inappropriate for a president to ask. Could you imagine if Bush had called for the head of just about anyone? I can hear the cries now of “fascist!” And that would be right. So why the cricket chirps now?
Of course, when they DO bail out Detroit (and they will), this will make it easier to make unions deal. They’ll just say, “Hey, look, we made the CEO deal too.” And the creative class will be like, “Yeah, fair’s fair. Unions are being unreasonable.” (Which is, coincidentally, what they already believe. Those fucks don’t really support unions at all, don’t even belong to them.) Shades of Chris Brown and Rhianna. The abused woman analogy with the D-Party makes more and more sense.
It’s certainly inappropriate for a president to ask. Could you imagine if Bush had called for the head of just about anyone?
Exactly. This whole thing smells to high heaven.
I live in Detroit and many, many people here are livid. It’s not that we don’t recognize that the auto industry has flaws – sheez, who would know better? – but we know who’s going to get hurt most. And that’s working people, from factory workers to clerks to accountants to sales people. Not to mention all the businesses and their workers who are hurt when auto workers don’t have money to spend on things like clothes, recreational items and eating out.
I may metaphorically bust the chops of the next person who yells that Obama is a socialist. He may well be a fascist, but a socialist he’s not. If he were, we might actually get universal health care, and repair the rest of the tattered safety net. At least a few bones thrown to the average person.
No, Obama’s just another corrupt, greedy pig out to loot the government for himself and his cronies. The scariest part is that his liberal cover will give him leeway to do things like undermine Social Security that not even Bush managed to do.
I agree with sister of ye. Obama is not a socialist and could do as much damage as Bush.