Command Economy

Anyone else troubled by this?  The Obama administration is now making personnel decisions – in private companies.

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

Wagoner’s resignation was one of the remarkable strings attached to the new aid package the administration is offering GM, based on recommendations from the Presidential Task Force on the Auto Industry, headed by the Treasury Department.

The White House confirmed Wagoner was leaving at the government’s behest after The Associated Press reported his immediate departure, without giving a reason.

The surprise announcement about the classically iconic American corporation is perhaps the most vivid sign yet of the tectonic change in the relationship between business and government in this era of subsidies and bailouts.

I would not know Rick Wagoner if I tripped over him. But I am very troubled by a government that offers aid, then punishes those who take the offered hand. This is now happening at the executive level, not just the legislative.

It says rather a lot about the integrity of the government right now.

None of it good.

Via Memeorandum.

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6 Responses to Command Economy

  1. John H says:

    I’m only troubled by the fact that what cost U.S. tax payers billions could have been accomplished for nothing.

  2. lynndh says:

    I for one do not care how bad Waggoner might have been, it is up to the GM board to remove him, not BO and the Feds. Whose next?? Someone that just speaks ill of the leader??? Something bad is going to happen.

  3. Pingback: Obama Makes GM CEO an Offer he Cannot Refure … GM CEO Rick Wagoner Resigns at Obama’s Order … What is this The God Father? | Scared Monkeys

  4. Dismantling the structures of American capitalism and replacing it with the structures of a politicized economy will destroy wealth creation in this country and likely the world economy will follow. The transformation that Obama and his congress are now pursuing is nothing less than a grand looting. Eventually, if we follow it to it’s logical conclusion, it will effectively end American democracy and destroy personal freedom.

  5. Pingback: General Motors CEO Rick Wagoner To President Obama: We Need Government Financial Aid. President Obama To GM CEO: AGREED, And By The Way, You’re FIRED | THE GUN TOTING LIBERAL™

  6. Mwalimu Daudi says:

    Can you imagine the reaction from the press if Wagoner had managed to bully Obama into resigning? The shrieks of “fascism” would have deafened all of America.

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