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Reuters: 2 Americans Cheer Obama Moves

Read this entire  Reuters article and count how many people are quoted as cheering Obama’s takeover of the auto industry:

Frustrated Americans cheer Obama’s tough auto moves

By Daniel Trotta

NEW YORK (Reuters) – Some frustrated U.S. taxpayers cheered President Barack Obama’s tough steps to shore up the reeling auto industry on Monday but critics called his decision to fire General Motors’ chief a heavy-handed power grab.

Obama forced out General Motors chief executive Rick Wagoner, pushed Chrysler LLC toward a merger with Italy’s Fiat SpA, and threatened bankruptcy for both, marking an escalation in Washington’s involvement in rescuing the faltering economy.

Skeptics asked whether it was an early sign of a more activist administration or an isolated example. GM shares tumbled 30 percent on the news and the Dow Jones Industrial average sank nearly 4 percent.

Experts called it potentially the most significant presidential intervention in the private sector since Harry Truman tried to seize the steel industry during the Korean War in 1952, only to be rebuffed by the Supreme Court.

"I don’t think the president should be running the economy. They should have let the company go bankrupt. The guy would have lost his job anyway," said Edward Prescott [against], a 2004 Nobel laureate in economic sciences.

As a candidate last year, Obama supported rescuing the financial sector, and since then he has shifted to attacking the bonuses and corporate jets for companies taking taxpayer money to pushing out a CEO and replacing members of the board of directors.

"Politics is certainly entering the process. GM should have gone into bankruptcy in the fall. We would be much further along with the workout by now," added Randall Filer [against], a professor of economics at Hunter College in New York.

Stephen Schork [against], editor of an industry report on the energy and shipping markets, feared Obama was trying to engineer a hasty conversion to green energy. "They are expressing abject hostility toward the hydrocarbon industry," Schork said.

WILL POPULAR SUPPORT HOLD?

At the same time, Obama’s approval ratings have held firm above 60 percent in most public opinion polls. In a Cincinnati coffee shop, retiree Sharon Schmidt [approve], 74, said she supported the decision to push Wagoner out.

"If GM is going to take a big bailout from the federal government, the people who brought it to this state should probably go," Schmidt said. "These bankers and so on are making million dollar bonuses? They should be gone, too."

In a Dallas suburb, accountant John Shaffer [approve], 47, also approved. "I feel he was fired to force the unions and bond holders to seriously negotiate with the company. So I think it was good," he said.

Stephen Hess [who doesn’t express a personal opinion], a presidential scholar at the Brookings Institution, said Obama’s action lacked any historical parallel because the circumstances of the financial crisis were unique and he could succeed because he seemed to have a good "internal gyroscope" on reading the mood of the public.

"So far people are with him," Hess said. "There will be a lot of people who say: At last somebody is doing something."

Opposition from Republicans in Congress was fast and fierce.

"With sweeping new power the White House will be deciding which plants will survive and which won’t, so in essence, this administration has decided they know better than our courts and our free market process how to deal with these companies," said Republican Senator Bob Corker of Tennessee.

But in a sign Obama may find some support from the Republican minority, Representative Darrell Issa of California said Obama has "struck the right chord in seeking balance between supporting the American auto industry and calling for a much-needed restructuring."

Not counting politicians we count a grand total of two (2) Americans who express their support of Mr. Obama’s moves.

Meanwhile, the bulk of the article is made up of quotes from three experts who are outright critical of his power grab.

But maybe they aren’t real Americans.

This article was posted by Steve on Monday, March 30th, 2009. Comments are currently closed.

23 Responses to “Reuters: 2 Americans Cheer Obama Moves”

  1. Rusty Shackleford says:

    “So far people are with him,” Hess said. “There will be a lot of people who say: At last somebody is doing something.”

    “Scuse me?”

    NOT with him. I am NOT.

    At last? Again, “Scuse me?” In the private sector, there are protocols to follow when businesses start to fail. It’s called bankruptcy. It’s an often excellent opportunity to have real, productive but painful reorganization and to streamline and make more efficient a business that may otherwise be hampered by long-standing agreements that are now untenable.

    However, in Obama’s bright and colorful world….this process is nonexistent. It’s government. I’m afraid his, like a lot of my peers, delusions run right back to childhood where the basic understanding of how the US government is supposed to work is lost.

    So many of my peers…..”The government ‘runs’ things”; “The president ‘runs’ the country”

    Both are foundationally and totally —wrong

    However, since there are so many who now actually believe that and maybe that’s what they were taught at school, (I wasn’t. My social studies teacher outlined the branches of federal government very well and described them to a T…she was tough, too) then perhaps we all deserve to have the government “run” things.

    *sigh*….. I’ll just wait for my party pin to come in the mail and learn to bow gracefully when His Royal Pain In The Ass shows up.

    The good side? I get to watch while the Government Motors Corp blows up in his face.

    Can’t wait to see all the unsold green cars in a year or two filling up the GM lots, with salespeople losing their homes and pulling their kids from summer camp and what-not. I will be laughing my ass off.

    And then it will come in the mail that I will be required to purchase one. Then, I’ll stop laughing and start loading, or packing….

  2. Reality Bytes says:

    Think about it. Hitler forced the Volkswagon on Porsche. Who’s gonna build the first Obama car? What will he call it? The Barackbazizzile? Who’ll build it? Superfly?

    http://www.youtube.com/watch?v=fxq2pCaW7Sk&feature=related

    I dunno know the answers to these questions, but given the current Washington bunch tryin’ to run Detroit, in a drag race, my money’s on Hitlers bug.

    • Rusty Shackleford says:

      Remember the car the hippies just loved? Yup, Der Beetle, ya.

      Right now, right this very minute…is the classic, glaring example of when politics meets science. The exploration of things and discovery comes after years, decades and even centuries of effort.

      By O-blah-blah basically mandating green cars, the eventual backlash of dead batteries, poor construction due to rush-to-market technologies, not to mention the basic flaw that waving his hand over the problem does not make the laws of physics change.

      I think the boy’s been watching too many episodes of Star Trek and thinks that engineers are able to make the Enterprise go warp 11 on cow patties.

      Or, he actually believes there’s a “Mr Fusion” on the market. I’ll let him test drive the first one and watch from the Moon as he becomes a small nova then a smaller black hole. Not that he isn’t one already.

    • Reality Bytes says:

      Crap! I FOUND IT! THE B. HUSSEIN OBAMAMOBILE!

      OK – the first 50 seconds is what they drive in Germany, the rest is spy footage apparently from the testing grounds somewhere inside Iraq! Be advised that like the vehicle, the specified garb will also be part of the coming requirements.

      http://www.youtube.com/watch?v=_Fe17mCBzAk&feature=related

    • jobeth says:

      RB, I laughed til I had tears in my eyes!!! That is tooooo funny!

  3. Reality Bytes says:

    God Bless YouTube!

  4. caligirl9 says:

    Regarding the photo accompanying this article, I’ve been editing a pair of grad school papers about media framing, and both talk about why media types choose to take photos at that particular angle.

    It promotes the image of strength and power of the political subject.

    Or maybe this is just the case of an Equal Opportunity Employment intervention and the photographer was really short.

    (No disrespect to any little people who happen to be photographers!)

  5. Cliff says:

    My question is, why does GM have to sell off part of the company, have the workers

    take concessions? Why didn’t AIG get split up? Fannie mae and Freddie mac and others. Did the workers take concessions? Why Not?

    When GM employs 244,500 people in every major region of the world,

    And GM has over twice that many retirees, almost 500,000.

    Who’s fault is that?

    GM has been building car in the USA for over 100 years.

    And GM has almost 500,000 pensions/health care for retirees.

    Could GM turn a profit if it didn’t have any retirees? You bet.

    We are talking American retirees.

    GM didn’t allow the foreign car company’s

    to build plants is this country.

    (Toyota has only 371 retirees in the U.S.; Honda has 2,400.)

    Now Obama will demand GM built “Green” cars.

    Something that will not make money and people don’t want.

    But they will want them when Obama makes gas prices high enough.

    That is the plan, and it has been from the beginning.

    Tax gas high enough so people can’t afford to drive SUV’s and trucks.

    Mandate them to drive more expensive small “Green” cars.

    I saw it coming years ago.

    That is why the “Green” people wanted Obama as president.

    To push their agenda. You have not seen the end of this.
    http://kliphs-underground.blogspot.com/

  6. U NO HOO says:

    Oooo, a new FDIC, Federal Detroit Insurance Corporation, your warranty insured up to 250,000 miles?

  7. U NO HOO says:

    Larry Holmes says, “What were they thinking?”

    Fiat, Mercedes-Benz, ever hear of a DeSoto?

    Time for Chrysler to fade finally away like an old soldier. Make room for the profitable.

  8. pdsand says:

    I never realized it before, but democrats are demonstrably lying when they say that they structured these bailouts as stock purchases “to protect the interests of the American taxpayer” and not simply to grab control over American corporations. If a company goes bankrupt, the order of priority of claims in liquidation is to vendors, then creditors first, then the shareholders get whatever is left. If the bailout were set up as a loan, the “taxpayers” interest would be more protected than it is now, where we are basically shareholders who get whatever is left after all creditors are paid.

  9. TwilightZoned says:

    Is firing a private company executive constitutional?

    • pdsand says:

      Well he only really requested that the CEO resign, and Wagoner obliged. The un-constitutional part is the TARP bill itself.

      The quote from Face the Nation that represents everything I absolutely hate the most about Obama and Democrats generally, “Everybody’s gonna have to come to the table..”

  10. proreason says:

    But if the 2 Americans are Democrats, they might have 20 or 30 votes.

  11. Reality Bytes says:

    Obama’s plan for Detroit: 2 Words: British Leyland.

  12. canary says:

    Barack Obama’s old car is a 2005 Chrysler 300C. It has an 8-cylinder Hemi engine. It is a high-performance, luxury sedan with a 340-horsepower motor, leather interior, and all the accoutrements one would expect.

    After being criticized for hypocrisy, Obama sold the gas guzzler early in his presidential campaign and bought a hybrid in a gesture of hollow symbolism intended to appease his mindless liberal followers who are too stupid to realize what a fraud he is.

    So, what kind of fuel economy did Obama’s car get? What kind of gas mileage did his Chrysler 300C with its high-performance V-8 Hemi achieve? How many miles per gallon was the car rated at by the EPA?

    According to the government’s fuel economy website, the fuel economy for a Chrysler 300C with an eight-cylinder engine is 15 mpg in the city and 22 mpg on the highway.
    Obama thinks we should drive a smaller car, dangerous, bugs.
    On May 7th, 2007, Barack Obama criticized automakers on their fuel economy.
    He takes unnecessary trips, such as the one day trip to Illinoise on Valentines day, using two jets. Pelosie’s constant jetting around. What do the Clinton’s drive?

  13. wardmama4 says:

    This is exactly what got us here – GM took the bailout – and now they are bowing and scrapping to The One ™ – and that is all everyone is focusing on. Not the screw ups, bad decisions (on all sides) that got us here. Someone came close with the question about AIG, Fannie & Freddie and ‘concessions’ and ‘sacrifices’ but how about this biggy –

    What is Congress’ retirement plan (and healthplan) – isn’t it for life?

    Don’t they themselves vote their own pay raises, entittlements, benefits, retirement, perks etc?

    How about Congress even just having a pay freeze much less cutting sacrificing a percentage for the ‘ common good.’

    I can’t for the life of me understand how anyone can side with and/or believe these liars and hypocrites – 60% are out and out rotten, 35% are in-between cowards and 5% might be salvagable.

    Repeal the 16th Amendment and cut off their lifeblood – MONEY. Then institute Term Limits and get America back to a Constitutional government (with a small g forever).

  14. AConcernedCitizen says:

    Actually, Congressional payraises are automatic. There was a motion put on the floor a few months ago that would require Congress to actually vote for its raises, but it was squashed before it made it to a vote. Interesting, eh? Other federal employees do not receive the automatic pay raises (their essentially automatic…who’s going to vote against them?…but it still requires a vote as part of the budget process) and now private companies who accepted taxpayer money might find their compensation plans written by Congress. So much for pay for performance.

    • proreason says:

      Why do they bother to take pay.

      Do Mob Bosses draw a “salary”?

    • Liberals Demise says:

      It’s called a piece of the action (tribute); right Mr. Dodd , Mr. Frank, Mr Murtha, Mr Kerry, Mr. Jackson, Ms. Waters et al.

    • Rusty Shackleford says:

      ACC, good point on the pay issue.

      I wonder how the pay will matriculate out now at GM. I’m sure they will “realign” the pay scale according to the divine one’s plan. How about everybody gets minimum wage? That’s truly fair and equal, right?


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