March 30, 2009

Obama thugs out Wagoner.

Politico: The first paragraph says it all:

The Obama administration asked Rick Wagoner, the chairman and CEO of General
Motors, to step down and he agreed, a White House official said.

This is not America.

True, Wagoner left a lot to be desired. But the government should NEVER be in the business of telling companies who to hire and fire. That decision belongs in the hands of the shareholders. Just as the shares do not belong in the hands of the government.

Obama can claim he is simply following Paulson's lead where Paulson had asked for the head of AIG CEO Robert Willumstad as part of that bailout. But if Paulson had decided to jump off a bridge... In a sense that is exactly what is happening here - they've decided to jump of the bridge of capitalism into the frozen waters of socialism.

Yesterday, I called it bizarre. Today, I'm calling it frightening.

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