In one fell swoop, President Obama made the federal government the new owner of General Motors. So rather than allowing the company to reorganize on the other side of bankruptcy, the auto company is now the property of the u.s. government. I hope other companies in line for a handout have seen what happens when you beg from people with shadowy intentions. When the Godfather does a favor for you, you are indebted to the organization forever.
Now Washington will finally have the opportunity to try its hand at running an auto company. They’ve been pretty content to armchair quarterback for years, but now they will be on the field calling plays.
Most threatened by the recent moves is Ford who will now have a monopoly on the consumer-driven auto market, and will be able to produce the cars people want, rather than those that the government thinks you should have. Woe to them who threaten to profit from customer satisfaction.
As for the new American Motors, imagine all the efficiency of the post office, with the speed of Amtrak. Destination: breakdown. But never fear, President Obama assures us those warranties will be backed up with the full faith and credit of the u.S. government. How about that – we now have the very first universal health-care system for cars.