Thursday, April 23, 2009

Succinct Analysis of the Auto Mess

And who is making it a mess.

His current bailout strategy amounts to asking thousands of bondholders and GM retirees to buy stock in a GM that the king's own policies mean they'd be loony to buy.
King Barack has only been on his throne for three months. His policies already have devolved into savage incoherence.
But let's face it, the king is also somewhat lacking in the lion-heartedness department.

A very good presentation of the combination of arrogance and ignorance informing many of the current initiatives.
UPDATE: The previous article is about GM. Scott Johnson does the heavy lifting regarding Chrysler. What is outrageous is the arbitrary changing of well-established rules after the fact, to achieve some ends that are not clear to me and are likely to have devastating unintended consequences. The willingness to work with this government is going to plummet if this sort of nonsense continues. Well, unless you are a community organization expectiong some handout.


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