And once again, the headlines and copy scream out micromanagement and inexperience in the executive branch of the government. Barack Obama the neophyte regulator, comes to America’s “rescue” with a socialist agenda.
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?
Yes, Obama is telling the auto folks just how to run their business, as a condition of bailing them out. Auto Dealers Fight To Stay On The Map – White House Pressures General Motors To Shed Dealers, Who Are Already Hurting Thanks To Recession And Skittish Consumers. Better hope it isn’t your job Obama is suggesting get axed. Wait. Where is the bail out for those pending pink slips?
Making a bold stance, now he has squeezed the GM CEO out of the head job, by asking him to resign of course. No tears shed though. Wagoner cries all the way to the bank as he collects his $20 million retirement package as he passes Go.
Now Wall Street Bets Obama Will Fire Bank CEOs Next Says CNBC Reporter. Behind the scenes, they may be wishing to take advantage of a golden parachute opportunity in their contracts too.
So will the economy and big business in America continue to flounder as Obama leads with brash rhetoric and strongarming ? Eager to claim command and wield power as any young lad dreams, Obama still remains a A Rookie President.
He has never had any position of major executive responsibility in any kind of organization where he was personally responsible for the outcome.
Other first-term Presidents have been governors, generals, cabinet members or others in positions of personal responsibility.
This might explain his impetuous maneuvering to signal control. Never to let a good public relations opportunity or crisis go by, Obama has even taken on a new hat as Car Salesman, demonstrating he does not need just released GM CEO Rick Wagoner. He will manage the auto giant just as he is managing the economy. Thank you.
Eager to reassure consumers, Obama also announced the federal government would immediately begin backing the warranties that new car buyers receive _ a step designed to signal that it is safe to purchase U.S.-made autos and trucks despite the distress of the industry.
“You’re fired. I’ll drive.” Tuesday March 31, 2009.
Image courtesy of Michael Ramirez at http://www.ibdeditorials.com/Cartoons.aspx.
See:
- http://article.nationalreview.com/?q=ZWE0MzM5ZmZlMjA2MjU4YTliOGYxNjViN2VkMDVmNzI=
- http://www.cbsnews.com/stories/2009/03/30/business/main4904791.shtml?tag=topStory;topStoryHeadline
- http://hotair.com/archives/2009/03/30/wagoner-cries-all-the-way-to-the-bank/
- http://www.cnbc.com/id/29956752
- http://newsbusters.org/blogs/jeff-poor/2009/03/30/wall-street-bets-obama-will-fire-bank-ceos-next-says-cnbc-reporter
- http://www.realclearpolitics.com/articles/2009/03/a_rookie_president.html
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