GM under White House Control

So this weekend the Obama administration took over GM now Government Motors. They will say that they are just giving a few suggestions in order for the company to receive government loan (or bailout I don't know what word they are using today) for what the 2nd or 3rd time in as many months. These types of loans and rules that go with them are normal--IF they come from PRIVATE investors. Now the US Government is the number 1 investor in our companies.

This is a total socialist takeover of private companies, nothing less. I am not some nut screaming against government assistance, for example the FDIC insurance or SEC oversight of companies, or thinking that no rules are needed to keep the playing field level and fair. Heck, that is what I'm asking for -a level playing field. We have lost that now, we have new rules- some companies are "Too Big To Fail" or are too important as a manufacturing through back--this is not a level field of play. It is not capitalism that we have in the United States of America. This nation is the greatest because we all have the same opportunity, not a guarantee...to play favourites is total socialism-if you are on the list of the powerful government you are saved no matter what, if you are not on that list you die...

If GM or Chrysler or the banks can't find investors to back their plans then they need to re-organize, merge or perish...OMG, yes some companies go out of business or evolve. When this happens other small businesses with better ideas, products or way of marketing come along and fill in the gaps left. The problem is everyone things things happen in 24 hour news cycles. Get over it and let the capitalist system that built this country live.

How many people have bitched for years that the big auto companies kept the ideas of electric or some other alternative fuels cars from the public-now we want to save them?

There are a bunch of Buggy Whip makers heading to Washington this morning to get their bail out next!


posted by Peter Greene