It’s not what Obama knows. It’s what you think he knows. It’s what he makes you think he knows. He doesn’t know anything about the automobile business. He doesn’t know how to change a tire. … He really believes it his job to return the nation’s wealth to its rightful–quote unquote, rightful owners.
I especially liked Rush’s comment about the American auto industry, coming on the heels of new GM CEO Fritz Henderson’s comments about bankruptcy being the only way out of their competitive disadvantages. They sell plenty of cars, as many as Toyota does world-wide, but they incur massive losses from their pension and benefits obligations, while Toyota makes a profit from its better business model.
Motivations are harder to pin down, but the sudden move towards corporatism and government control of the marketplace seems very ominous indeed. With attacks on compensation and the sometimes forced nature of TARP allocations, it looks as though Obama envisions a massive reordering of what had been a free market to a fair market … with his ideas of fairness trumping all.
Rush asks a fair question: why are we letting people who know nothing about the auto industry act as czars, imposing their policy solutions on a private entity? It seems curious that more people aren’t asking that question.