Gangster Government–Chicago Style
"Give President Obama credit — he at least made the
proverbial offer Chrysler’s secured creditors couldn’t
refuse. The way Obama strong-armed creditors who
rightfully expected to be treated justly under the law
was right out of Juan Peron’s playbook. Like the
Argentinian strong man, Obama muscled the owners
and creditors out of a productive private company
and gave it to union leaders, who will then fill
his campaign coffers in gratitude for his generosity.
The Examiner’s Michael Barone — who has forgotten
more about American government and politics
than most Washington political experts know — was
correct to dub Obama’s Chrysler heist ‘an episode of
Gangster Government.’ Forget what anybody in the
White House or what is left of the Chrysler executive
corps claims to the contrary because the UAW
effectively owns the company now, holding 55 percent
proverbial offer Chrysler’s secured creditors couldn’t
refuse. The way Obama strong-armed creditors who
rightfully expected to be treated justly under the law
was right out of Juan Peron’s playbook. Like the
Argentinian strong man, Obama muscled the owners
and creditors out of a productive private company
and gave it to union leaders, who will then fill
his campaign coffers in gratitude for his generosity.
The Examiner’s Michael Barone — who has forgotten
more about American government and politics
than most Washington political experts know — was
correct to dub Obama’s Chrysler heist ‘an episode of
Gangster Government.’ Forget what anybody in the
White House or what is left of the Chrysler executive
corps claims to the contrary because the UAW
effectively owns the company now, holding 55 percent
of its stock. True, the union doesn’t get an
explicit controlling majority of the board of directors,
but who needs that when you’ve got the White
House guaranteeing your work and the U.S. Treasury
Department making sure you never have to
worry about the bottom line. … Contrasting mightily
with the Pennsylvania Avenue Gang’s thuggery is
the quiet confidence of Ford Motor Company’s
president and CEO, Allan Mullaly. He had the foresight
three years ago to strengthen his firm’s cash
and credit reserves in anticipation of the inevitable
decline of auto sales. … When GM and Chrysler
headed hats-in-hand to Washington last fall, Mullaly
said Ford didn’t want a bailout and then watched
quietly as his two cross-town rivals committed corporate
suicide. Now Ford is positioned strongly to
be the last great American car company. With a guy
like that at the helm, it’s enough to make people
who love American free enterprise go out and buy a
House guaranteeing your work and the U.S. Treasury
Department making sure you never have to
worry about the bottom line. … Contrasting mightily
with the Pennsylvania Avenue Gang’s thuggery is
the quiet confidence of Ford Motor Company’s
president and CEO, Allan Mullaly. He had the foresight
three years ago to strengthen his firm’s cash
and credit reserves in anticipation of the inevitable
decline of auto sales. … When GM and Chrysler
headed hats-in-hand to Washington last fall, Mullaly
said Ford didn’t want a bailout and then watched
quietly as his two cross-town rivals committed corporate
suicide. Now Ford is positioned strongly to
be the last great American car company. With a guy
like that at the helm, it’s enough to make people
who love American free enterprise go out and buy a
new Ford." –The Washington Examiner 