The Reincarnation of Ronald Reagan called President Obama has told us what we will get in return for our public purchase of General Motors:
What we are not doing — what I have no interest in doing — is running GM. GM will be run by a private board of directors and management team with a track record in American manufacturing that reflects a commitment to innovation and quality. They — and not the government — will call the shots and make the decisions about how to turn this company around. The federal government will refrain from exercising its rights as a shareholder in all but the most fundamental corporate decisions. When a difficult decision has to be made on matters like where to open a new plant or what type of new car to make, the new GM, not the United States government, will make that decision.
In short, our goal is to get GM back on its feet, take a hands-off approach, and get out quickly.
The foxes who ate all the chickens will not be told they are disqualified from running the place, despite the fact that the collective of the chickens just bought it.
Of course, the people who run the chicken collective are rather obviously foxes in feathered garb. The foxes bought them their television commercials and sponsored their rise from the coop.
Obama’s plan here is a guaranteed disaster, too, by the way. The age of the automobile is at its end. The Earth can’t take it any more, and capitalism has sucked all the blood out of the suckers. Unrestrained class-struggle-from-above has reached its own logical end. Offshoring and credit-card wage-substitution have finally finished laying their rotten eggs.