President Obama’s sophomoric administration not only wants to make the laws, enforce the laws but they now want to play in the game. Today he anointed himself CEO of Corporate America and changed the definition of capitalism as we have known it for the last century.
Our Commander in Chief/CEO of America, is now heading up Banks, Financial Institutions, Wall Street and now the auto industry. Yesterday he fired the chairman of General Motors, Rick Wagoner, a 32 year employee of General Motors and today he had the arrogance to thank him for his service.
Oh, the White House would like us to believe he resigned. No, the White House asked and he agreed. His resignation was based on the condition that the Obama administration would continue financial aid to GM. In plane language this is a firing, but not a firing by the Board of Directors of GM or its stockholders, but a firing by the President of the United States — it is unheard of. This is a private ailing company. Let it fail under the rules of capitalism and go through the normal Chapter 11 procedures that other businesses go through.
But no, Obama not only wants to spend taxpayer’s money and leave the debt to future generations, but he also wants to play in the game. As court general he is already selecting who will play what positions and soon he will be telling them when and where to take a shot.
None of the key players in this administration ever worked in the private sector, yet they think they can play in this game. An example of this is Obama’s demand for Detroit to make cars the public doesn’t want.
Now within the next 60 days GM has to come up with a plan. This plan, Obama says, will require sacrifice, loss of jobs, concessions by suppliers, bond holders and the UAW. And speaking of the Union, why didn’t Obama fire the President of the UAW? The nut that needs to be cracked is the $28 billion GM owes to bond holders and the $20 billion it owes to the Union pension and health care fund. There are many that speculate, I included, this was more of a bailout for the Unions because of Obama’s close ties to them and the support he got from them or he wouldn’t today be Commander in Chief/CEO of Corporate America.
And after all of this, GM may still have to file for what Obama calls and expedited bankruptcy. But the public shouldn’t worry they can still buy those GM cars, because Obama will back all cars with a guaranteed warranty with taxpayers money.
If all of this doesn’t work Obama may have to file a Chapter 11, for 100,000 auto industry workers will be out of work.
Now if you think GM is in trouble, Chrysler needs a buyer or they are gonzo. The tentative buyer is Fiat, a foreign manufacture — another first. When has a President of the United States last endorsed and encouraged the purchase of a Detroit auto company by a foreign company because it has better technology. Chrysler has 30 days to wrap up this deal and then it can file for Chapter 11. For those of you that ever had a Fiat, it was commonly referred to when taking it for repair, ‘Fix It Again Tony.’
Now if you don’t believe we are on our way to socialism, if not already there, listen to the lectures from unlikely sources — China, France, The Check Republic, and Germany — on the importance of Capitalism.
It is time for we the people to stand up for our constitution and fight for our rights and let the 545 people making up our government to let them know where we stand, for they more than others, were responsible for this economic crisis. And, it’s bound to get worse. It is common sense that you don’t spend your way out of debt, yet that’s what Obama is doing. If they don’t listen — vote them out of office. Secondly, it is a time to shorten all term limits for elected office.



No user commented in " Obama Anoints Himself CEO Of Corporate America "
Follow-up comment rss or Leave a TrackbackLeave A Reply