Sunday, March 29, 2009

GM In the Clutches of Obama's Bailoutistan

So, Obama has fired Rick Wagoner, eh? Well, I wouldn't want to have to defend Wagoner's record, but why aren't we firing Ron Gettelfinger? After all, the United Auto Workers are every bit as complicit in GM's problems as Wagoner. Actually more so, since they've played a part in crippling Chrysler and Ford as well. However, given their support for the Obama campaign, I wouldn't look for any serious concessions from the union anytime soon.

Certainly, and probably especially, after the Obama Administration's bungling of the AIG bonus issue, a fall guy needed to be found, and Wagoner fits the bill.

Further, if we're going to go around collecting resignations from folks responsible for our problems, why isn't Obama asking for Barney Frank's resignation? He's done practically superhuman work to set up Fannie Mae and Freddie Mac for failure.

Perhaps the more important point that in Obama's Bailoutistan, private property will survive in name only, with a bunch of unaccountable bureaucrats actually controlling the economy.

Still, it's hard to gin up sympathy for Wagoner; he was simply taking the easy way out.