Obama administration tells CEO of GM to resign

Accordng to an article on Politico.com, President Obama’s pan to help bailout the auto companies includes asking the current CEO of GM to resign.  Why isn’t anyone else freaking out with this?  After reading the article, I can’t believe we have reacheda part where the governent can now say who is allowed to be a CEO of a company and who can’t be.  What else is the government going to tell us we can or can’t do?  Will we be forced to buy certain items?

Or am I totally misunderstanding this?  Can someone exlplain this to me?

3 thoughts on “Obama administration tells CEO of GM to resign

  1. In the absence of restraint, the government either “blackmail”s or gains majority share of private companies, ostensibly for the “public good”. I guess that’s what Rahm Emanuel meant by “Never let a crisis go to waste.”

  2. You’re right. We should all chip in and just give GM their bailout money, with no conditions! I mean, why should the government be able to negotiate any terms before giving money to private companies? They’re the government! They can’t do anything right (except the army, who are AWESOME!). Corporations should be running it, not the other way around! Besides, I’m sure Rick Wagoner is really the best person to run GM, he just had the bad luck to post some of the worst losses in the history of corporations. It’s not like GM is doing any worse than Toyota or Honda or Ford… right?

    I tell you, when the government forces someone to take bailout money with any conditions like that, it is tyranny!!!

    BTW, how can I hire you, you sound like a GENIUS!

  3. I’m sorry I think you mis understand me. I don’t think we should bail out any company, let them fail. Bankrupty exists for a reason.

    I am not suggesting we give GM any money. And this is someone from Michigan who was been dealing with the recession for a lot longer then anyone else in the country has been. My state is in a terrible mess and I think giving these companies money is only prolonging the problem.
    The Unions and the legacy costs the automakers still have are the real problems.

    Jonatahn

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