TheHill.com - President Obama’s auto plan throws lawmakers
“This obviously rang an alarm bell with me,” Corker told reporters on a conference call Monday. He said his understanding, based on a briefing by Steven Rattner, a member of Obama’s auto task force, is that the administration will use the threat of the bankruptcy code to force GM to close plants that the administration judges should no longer be in operation.
Here’s the deal: I want GM and Chrysler to either get bought out, or go bankrupt, but I want any bankruptcies handled by bankruptcy courts already set up to handle such things, not by the Obama administration - or any administration - using the code to force changes it “judges” should be carried out.
So Obama will decide which plants “should” live, and which “should” die? That’s central planning, and the end result of that is always great scarcity and dying economies. But socialists love it, which is why Obama and the Dems want to do it that way.
UPDATE: William McGurn Says Auto Makers Shouldn’t Be Exempt From Considering Bankruptcy - WSJ.com
Submit to Stumbled Upon!
In my undergraduate poli sci class, my professor gave us this handy guide to recognizing totalitarian political systems. In communism, the dictator doesn’t allow companies to exist. In socialism, the dictator forces companies to be part of the government. In fascism, the dictator allows the companies to exist seperately from the government, but then dictates all the major details of the companies operation. He pointed out that this would help explain how China has evolved from communism to socialism to its current state of fascism. It’s now interesting for me to experience for myself the same political developments that 1930s Germans experienced. I’m just wondering how much longer until we hear that Obama has appointed Bill Ayers to run his camps in the Southwest U.S.