I think the firing of Wagner by the President is much worse than it would seem. Imo, either let them go under or give them cash but.. don't run them. This imo may make money run from this nation. They are beginning to run companies. Telling them how to compensate and now who should run these companies. Banking, insurance, manufacturing. I understand why the bailouts are done, but the government cant run these companies, it is no longer a free market and money will leave the market. President said something like - I am committed to working with congress to make the greenest car industry in the world.- This is a massive failure.
Massive failure is actually an understatement. The firing of Wagner is carte blanche to extend this sort of federal government authority towards firing bank CEOs and any other companies under economic pressure. What a disaster!
I agree. If the market wanted cleaner cars it would produce them. We started to, but with the lower gas prices I don't really see it happening anytime soon. I think instead of forcing the companies to produce cleaner cars they should just tax the hell out of gasoline. I don't think this is an original idea though. Britain maybe did it? This artificial and unecessary inflow into this market is taking resources away from potential production of goods that our economy actually is demanding.
1) You have no idea what "free market" is 2) If you did, you would know that it's a pipedream 3) US was at times close to that pipedream, but those days have been over for decades 4) You support the bailouts, yet are crying about the death of free market.
What did you expect? The 'free mkt' ideology went too far and got us into this mess. As usual, when time comes for the pendulum to swing the other way, we should expect to swing wildly too far in the other direction; from one extreme to the opposite one.
Sarcasm aside, that's the problem... Asian workers do so for $1/hr, while Americans want $20+/hr.... and eventually the low labor rates will win out.. always have, always will*. (America's labor unions and their well-paying jobs were born and evolved in an era of virtually zero competition... not the case today.) *Unless America imposes punitive tariffs on imports... which the Gummint claims it "politically cannot afford to do".
That could take a thesis to refute. A small part of the problem, for sure... but a mere pimple compared to Affirmative Action Lending and its spawn...
I agree that Obama shouldn't have meddled with ousting the CEO, but I don't think we should be bailing out the auto and banking industry. You can't have it both ways...............