President Obama explained in his news conference today that the problems in the domestic auto industry are not the fault of the autoworkers, but lies solely with the leadership in Washington and the leadership in the Big-3. He used this line of reasoning to justify, what I feel is a tremendous abuse of power, in telling GM CEO Rick Wagoner to step aside or there will be no additional funding.
I have read some of the pundits say that the Government, with their requests for a viable business plan, is asking no more than any other lending institution considering making a loan. I agree with that rationale except rarely do you see a lending institution tell the CEO of the company to resign or else. That's taking it a little too far.
Obama says the auto industry hasn't "sacrificed" enough in their recovery plan. I wonder if any of those fools in Washington realize Michigan has lost 600,000 manufacturing jobs in the last 5 years, most due to cutbacks in the auto industry. I wonder if they know that as of 2010 the UAW will shoulder the medical costs for it's members and retirees? That came about in the last contract before all of the crap hit the fan. And Washington says we aren't doing enough? I wonder if they know that in the first half of 2008 GM sold 4.54 million cars worldwide and Toyota sold 4.82 million? So much for that superior transplant product. In the second half of 2008 both companies saw declining sales, not due to management but due to increasing oil costs and the FINANCIAL crisis.
As I have already stated elsewhere in this blog I have no particular love for Rick Wagoner. What I do have is a moral sense of fair play. That if a standard is set then all need to play by the same rules.
Therefore, if we need a business plan from the domestic auto industry for a "LOAN" what are we requiring from the investment, banking and insurance industries for the "GIFT" they were given? Which CEO in those industries has the President or Congress targeted as the "sacrificial lamb" before they get more money? Have we determined which company with have to merge with Deutsche Bank to stay viable? Which page had the condition on it that said if you get taxpayer money, you need to make loans with it at a reasonable rate? I'm sure all of these questions have good answers, right?
While we're on the topic of grading people for their performance I think, as a stockholder in this country, I'd like to see Washington's business plan. Just today, Mr. Obama, you promised financial support for areas hit hard by the auto industry downturn. How much is that going to cost? In what form will this assistance be given? Will it be enough to offset the loss of a job?
I think I'd also like to see some explanation of why Mrs. Clinton decided it was our fault for the drug wars in Mexico. I see she promised them financial support in their cause and I was wondering how we're going to pay for it? Another loan from our biggest mortgagor China or are we possibly going to make those 11 million illegals in this country start paying taxes to help pay for it? Speaking of the illegals, how is it "Lawmakers and Executives" are afraid to enforce the laws that they wrote? I mean, where is the debate? They are here illegally, deport them. See how simple that is and guess what you just freed up 5 million jobs, for Americans.
I also would like to know how many of you actually voted for this hair brained war we have ourselves mired with in Iraq? I don't want to know about those that changed their minds I want to know who voted for it because if ever there was a reason to step down or be removed, that's it. Hell the guys on the planes were all Saudis, not Iraqis. And what ever happened to Bin Laden? Oh, and while I'm at it how many of your appointees failed to pay taxes? Because I'm starting to think we have character issues. Speaking of incompetence how about we ask Shelby to step down just based upon the illiteracy rate in his state?
One final thought Mr. President. What if the next time you go to borrow money from China they want you to step down? Would you do the right thing the way Rick Wagoner did?
See, if you have a rule it should be applied across the board. That is the way a nation of laws was conceived and how it is supposed to work. Selective governing sounds more like a theocracy than a democracy. The honeymoon is about over.
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