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March 31, 2009
Obama steps over the line
Topics: Political News and commentariesVia the LA Times, Obama's automaker bailout plan has crossed into 'industrial policy,' in which government officials, not business executives or the free market, decide what products a firm makes and how it charts its future:
Some participants in the deliberations, speaking on the condition of anonymity because of White House restrictions on allowing people to speak freely, said the task force operated from an underlying belief that consumers would ultimately be attracted to more fuel-efficient cars despite current data showing many such cars languishing on dealer lots.Apparently the White House wants to mandate not only the management of U.S. companies but also what products they make relative to the administration's ideology - and to hell with what the market demands.
Obama is now not only the Socialist-in-Chief, he's now decided to be the CEO of America's automakers.
Posted by Richard at March 31, 2009 8:23 AM
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