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Monday, March 30, 2009

Obama's Industrialists - part 2

Can we stipulate that someone with the power to fire a man runs the organization in which that man works? I really don’t care that Obama claims that he does not want to run GM. In fact he does. He is the decider of who manages the company and that makes him the boss. But he did more than fire the chairman of GM, he fired most of the board of directors who are nominally superior to the chairman.

What I find chilling, is that the discussion among the talking heads, the opinion makers and opinion shapers, focuses on the effectiveness of Obama’s actions. Good God almighty, does no one care about the fact that the president of the United States just took over a major corporation? General Motors is now effectively an arm of the US government, just as I.G Farben – while ostensibly a private company – was essentially an arm of the German government.

And Tim Geithner is demanding the right to seize all non-financial companies.

Perhaps my concerns are overwrought. But each day that passes makes them seem less so.

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