DETROIT ?Time and time again, General Motors Corp.'s board of directors reaffirmed its support for Chairman and CEO Rick Wagoner, even as the company piled up billions of dollars in losses and begged for government loans to stay alive.
But Wagoner is now a high-profile casualty of government intervention, forced out as part of the Obama administration's sweeping last-ditch effort to save the century-old auto giant."
Does our current administration have this kind of power, to 'fire' top people from their jobs ?? Your thoughts?
Soon they will be picking up wealthy people and confiscating their assets, just like used to happen in the old USSR. While calling for taxpayers to be responsible spenders the Obama administration waste billions to pay back campaign supporters.
"The Plan"
Crash the economy. (spend on social welfare programs)
Government take over of industry and banking. (cars, money)
Government confiscation of all bank accounts over $10k. (rich people don't need all that money anyhow, and it will balance the budget and increase the coffers for all the social welfare programs)
Government decides who gets what and on what day of the month.
Ask Fidel about it - real similar ideas going on in Washington today.
If it's already been done, then clearly they do have that kind of power.
And just as you stated, they have begged for more loans to stay alive.
Why they were not removed from office before is beyond me.
But good to know where my taxes went to.
I personally think it's a waste of time. No one should care about these big business going under. They should put that 17.1 Billion dollars into schools, into making the people smarter and more capable of moving past all this economic crisis drama.
People got too greedy and thats why the world is as crappy as it is today.
As long as that company exists through public financing, then yes. If the taxpayers are paying the bills, then the company has to accept their wishes. Obama represents the taxpayers, so I guess he has the power to make executive decisions.
Let's just hope he makes the right ones.
Yes. We should expect nothing less because they are asking for taxpayer money. It's a sham though. Why aren't the bank executives being kicked out and all of those key players? No - they are rewarded with "retention payments" even as they walk away.
The status quo is being maintained. Don't be silly. Don't think otherwise. Obama is not that different from Bush. He's seriously constrained.
Yes and when there is a labor strike he will use the military
It seems so if he has already done that
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