Obama forced the CEO to resign. Also made the company present restructuring plans directly to them, and basically steered the IPO. http://articles.nydailynews.com/200..._1_rick-wagoner-gm-two-months-chrysler-and-gm
For one the government screwed over GM bondholders and gave preference to the unions in the restructure. But bigger than that, The Treasury department engaged Boston Consulting Group to develop the company's Chapter 11 exit strategy. The Treasury Department was the client, and not GM. That is a huge issue.
In any other economic environment your first statement is spot on and I agree whole-heartedly. Recessions are typically when survival of the fittest occurs in the business world and that is a good thing. That being said, this was not a normal economic environment so the measures that had to be taken in order to preserve our overall economy were indeed extreme. GM, along with all the other American car companies, kept making SUV's when they should have transferred over to hybrids, etc. They continued doing this because up until the end of 2007, the demand for SUV's in the US was astronomical. During and after 2008 the car companies realized that they had better start looking ahead instead of creating the same old monsters it was too late effectively. I say this because I agree with your statement that these car companies had become dinosaurs compared to their European and Asian counterparts. I cannot say that they didn't make poor decisions but if we had allowed them to sink it could have cost all of us dearly. Like I said before this was the lesser of two evils but it was still effective.
You don't get to tell me what I am. I know what I am. Why don't you start worrying about you and quit drinking that right-wing kool aid, at least long enough to realize how far toward crazy the right has moved. Actually, let's just wait until the election. You will see just how far out of the main stream you are on election night. The Republican party has moved so far right that they are teetering upon alienating themselves from ever winning a national election again. With changing demographics in several key swing states like North Carolina, Florida and Virginia and, more so, changing demographics in Texas, the Republicans are quickly facing a scenario where they are unable to win a national election because of their radical views. Don't believe me? Listen to some Republican strategists who are already saying as much. I tell you this to illustrate my point. My hope is that after this election the Republican party will rid itself of nut bags who cannot seperate truth from partisan bull shit, and move back toward the center so that they can be viable on the national stage. I do not want the Democrats to be the only choice in town but right now they are because the Republicans have embraced insanity and completely detached themselves from reality.
Assumption is the mother of all evils.. Assuming all of GM was nuked, you still would have no point. Ford and Dodge would HAPPILY accept their sales.
With the likes of H Reid and Nancy PoloFullofShitIneedMyMeds, I seriously doubt the two parties are any different. Obama is nowhere near the center you keep speaking of. I can recite line after line of partisan shit if you'd like.
Is this your retort? Cause first that... Then this: And this after you told me I was so far to the right something or other. Are you typing it with a straight face? I've known some big hypocrites, but you may take the cake. You say this as though being in line with mainstream thought is a virtue. The mainstream in 1940s Germany thought it was a good idea to kill all the Jews and Polish. Being of sound philosophy is a virtue. Obama is not of sound philosophy. He clings to time and again failed ideas of how economies should work. As if I give a damn about the Republican party. When the other side is dead wrong there is no value in being willing to compromise with them. If Americans continue to elect shitty leaders we will end up broken and worthless, just like the former European powers Obama would have us emulate.
