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    Tuesday Miscellany

    Hell freezes over: The devil's in the details, but it looks like Obama's willing to let the automakers go bankrupt. I never thought he'd let that happen to his UAW constituency: The Obama's administration's leading plan to fix General Motors Corp. and Chrysler LLC would use bankruptcy filings to purge the ailing companies of their biggest problems, including bondholder debt and retiree health-care costs, according to people familiar with the matter. I'd rather that no government come up with a plan to fix any private company, but the willingness to let bankruptcy occur sounds like Obama is actually willing to let people reap a measure of their own bitter fruit. I'm not sure why AIG didn't have to reap it, but no matter, this might (might) signal a step in the right direction. Then again, Eight Mile ain't Wall Street. Maybe Obama is simply tied into that fourth branch of government under the sycamore tree, just like everybody else in DC. __________ Random quote I ran across last weekend in my archives: "The gentleman is courteous, but not pliable; the common man pliable, but not courteous." F.L. Lucas, loosely quoting Confucius. __________ "Mark" commented in my comments box last week. He runs Guate Living, a blog about an American living in Guatemala. Now that's a unique blogging niche. __________

    2 Responses to “Tuesday Miscellany”

    1. Mark Says:

      I see no reason to applaud the firing of GM CEO Waggoner or Obama’s auto plan. Government has now taken ultimate control of the private sector. If the President of the United States can force a private corporation into a partnership with the government (and if you think Obama didn’t orchestrate the bailout with the assitance of the union leaders and George W. Bush, think again), and then use that leverage to fire key executives, well, there can be no doubt as to who really makes decisions for the private sector.

      I know, this was all inevitable last fall. Clearly it was, because everyone knew the initial bailout was a stopgap measure and that nothing could prevent GM and Chrysler from coming back to the government, except for a bankruptcy (also opposed by the union leaders and Obama). The big 3 have failed miserably in many ways, and it would not only have been more prudent, but also more compassionate to simply let them fail and allow the private sector to pick up the pieces and move forward in an efficient and productive way.

      Instead, we have true nationalization of the auto industry. This really can’t be in dispute now, because if the President of the United States can directly order the CEO of the largest automaker in the country to resign, or threaten the company with complete destruction, well, what else can you call it? Obama is now, in this respect, no different from Hugo Chavez, Fidel Castro or Vladimir Putin.

      Welcome to Obama’s Amerika.

    2. Eric Says:

      Oh, I’m not applauding Obama’s moves, but the partial bankruptcy is a heckuva lot better than I thought we’d get. I figured he’d just nationalize GM or give them a trillion or two.

     

     

    Enter Amazon here, buy something, and get me a kickback.


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    Betty Duffy
    Book Reviews and More
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    Crossroads
    Decent Films
    Digital Hairshirt
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    Get Blogs
    Gilbert Magazine
    Godspy
    Happy Catholic
    Mark Shea
    Mere Comments
    Michelle Reitemeyer
    More Last Than Star
    National Catholic Register
    New Advent
    Phat Catholic
    Pillar and Fire
    Post Modern Papist
    PowerBlog
    Pro Ecclesia
    Quaffs and Quibbles
    Reasoned Audacity
    Reconnaissance of the Western Tradition
    Roman Catholic Info
    Ruri et Orbi
    Scheske at Catholic Exchange
    Scholium
    Shadow of Diogenes
    Signs of the Times: Salvo Blog
    Some Have Hats
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    St. James Journal
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    Standing on My Head
    Stella Maris
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    Suicide of the West
    Summa Minutiae
    Taki
    The American Conservative
    The Blue Boar
    The Cafeteria is Closed
    The Crescat
    The Curt Jester
    The Dawn Patrol
    The Drunken Dollar
    The Impractical Christian
    The Inn at the End of the World
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    Victor Lams
    Video Meliora
    Vita Mea
    Vox Nova
    What's Wrong with the World
    With Both Hands
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    Without Having Seen
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