The chairman and chief executive of General Motors, Rick Wagoner, resigned Sunday as part of a broad agreement with the Obama administration to funnel more government aid to the ailing auto giant, according to people close to the decision.
Mr. Wagoner, who has served as G.M.’s top executive since 2000, agreed to step down after it was requested by the president’s auto task force, these people said.
“Rick was fired because of Obama’s plan for one world currency”-Evan Bayh
So this week Obama is no longer an evil corporatist and is now a socialist again? I’m losing track of what the Right will use to trash him with.
I got a chuckle from Terrance D on Booman’s Blog–his evening Deep Thought tonight was a good one:
“Democrats (and anyone with a conscience) was outraged at the Bush administration because its members (including the President of the United Sates) committed war crimes, was the most corrupt in history and destroyed our economy. Republicans are outraged at Obama’s administration because Michelle Obama wears sleeveless dresses, President Obama read a bad joke from a teleprompter, and tax cuts for rich people may go away as they were intended to do when the law Bush proposed was originally passed by Congress (thus making Obama a Marxist). Or they are outraged because they can’t prove his birth certificate is false. Or maybe they’re just outraged he’s a black man and a Democrat who was elected President. Thus in the US of A we have equivalency in our political discourse.”
http://www.boomantribune.com/story/2009/3/29/162228/640
I’m glad Team Obama fired him.
Corporate America is hopefully getting the message that government money comes with strings attached. As it should!
There is an additional downside to government involvement……it spooks the hell out of investors.
Holy cats!
Somebody write it down: on this date, Joker actually agreed with a decision made by the Obama administration.
Quaker didn’t get it, did he?
It just sailed right over his head. Poor lad.
I’m glad Team Obama fired him.
Yeah, I guess I totally misinterpreted that.
Anyway, I’m glad to know that the space-time continuum is still intact.
There is an additional downside to government involvement……it spooks the hell out of investors. joaquin
Liberals bloggers put a great big jinx on the market last Thursday when they went bragging about the short-covering rally, joaquin.
So today’s huge drop isn’t really Obama’s fault.
He deserves our silence.
When I wrote:
I was not blaming Obama for the drop in the markets.
In other words:
Market drop = It’s Obama’s fault
Market rise = It’s due do everything but Obama
Dennis – When I said ‘it spooks the hell out of investors’ I meant it spooks investors from investing in individual companies that are ‘in bed’ with the government. Who wants the government as a business partner?? I know I don’t.
Who wants the government as a business partner??
You’d rather have the types that pay ‘retention bonuses’ to crooked fat-cats, I assume.
No, fafaroo:
Market drop = Investor insecurity and a lack direction.
Market rise = Investor security due to a positive ‘vision’ of where we might be 6 months from now.
No, fafaroo:
Joaquin didn’t get it, did he?
It just sailed right over his head. Poor lad.
He deserves our silence.
Shit, man, if he doesn’t, we certainly do.
C’mon…everyone knows the market going up is the result of the Bush tax cuts finally working!
Dennis: So today’s huge drop isn’t really Obama’s fault.
One day’s anything in the market isn’t really the President’s fault or claim to fame. Daily fluctuations are meaningless and represent nothing more than the momentary, often transitory, expectations of investors.
joquin: Market drop = Investor insecurity and a lack direction.
Market rise = Investor security due to a positive ‘vision’ of where we might be 6 months from now.
Over what period of time? That seems to keep sailing right over your head, poor boy.
Oh, look! At lunchtime the market is up over the opening today. investors must be feeling secure! Oh, wait. At the closing bell it was down I guess there’s insecurity about the future after all.
You’d rather have the types that pay ‘retention bonuses’ to crooked fat-cats, I assume. Parthy
Crooked fat-cats, Parthy?
See Dodd, Christopher
(D) Connecticut
Exactly what joaquin was talking about, actually. Incompetence, graft, CYA, and look the other way when it comes to our politicians and the companies they take over.
“But just in case there are still nagging doubts, let me say it as plainly as I can — if you buy a car from Chrysler or General Motors, you will be able to get your car serviced and repaired, just like always. Your warrantee will be safe” – Barrack Obama
If that doesn’t make you want to trade in you BMW, Lexus or Jag for that hot Chevy Impala, nothing will.
Y’know joaquin, we know you don’t respect him, but could you at least spell the president’s name correctly?
Then again, I guess we should be glad you didn’t go with the Redstate moniker–Barak Osama: I Luv Al Qaeda.
Dennis: Crooked fat-cats, Parthy?
See Dodd, Christopher
(D) Connecticut
So when someone points out someone objectionable on the right, are you ever able to say “yeah, they deserve scorn” or are you only capable of “Nevermind them. Look over there at this guy on the left!”?
Crooked fat-cats, Parthy?
See Dodd, Christopher
(D) Connecticut
Dennis, apparently you’re unable to understand anything about the stories you linked beyond the fact that they mention Mr. Dodd’s name.
If that doesn’t make you want to trade in you BMW, Lexus or Jag for that hot Chevy Impala, nothing will.
If you own a Jag, you need a second car so you’ll have something to drive while the beast is in the shop.
…or are you only capable of “Nevermind them. Look over there at this guy on the left!”? Sean D. Martin
I don’t believe many of the guys that stuck around at AIG to collect the bonues they were assured several times they’d be getting were the crooked fat-cats Parthy was describing, Sean. But come to think of it, yeah, I am pissed at the Republicans, especially my rep, Eric Cantor, for voting for that ridculous 90% tax on their bonuses. I just can’t think of that many on the right who got as much money from AIG as Dodd did and who screwed up so bad in that whole bonus mess.
I hope nobody is naive enough to think that their “blue chip” stocks aren’t already in bed with the government in these United States. That is what K Street is all about. The only difference here is that the government is adding a double edged sword provision. In business, we call that performance expectations.
Great post here about a “crooked fat-cat” at AIG…
AIG-FP the Wife’s View – Bullying, Betrayal and Blackmail
I hope no one is naive enough to think that K Street has the power to remove a CEO…………..at the snap of their fingers.
Dennis: Crooked fat-cats, Parthy? See Dodd, Christopher (D) Connecticut
SDM: …are you only capable of “Nevermind them. Look over there at this guy on the left!”?
Dennis: I just can’t think of that many on the right who got as much money from AIG as Dodd did and who screwed up so bad in that whole bonus mess.
In other words, no, you’re not. Thanks for clearing that up.
Dennis: Great post here about a “crooked fat-cat” at AIG…
AIG-FP the Wife’s View – Bullying, Betrayal and Blackmail
I sympathize with their situation and don’t think they should be either vilified or threatened. But I can’t help but notice that being “screamed at in public”, a “lack of authority or promotion or respect”, not to mention “We were unable to press for anything more than the ex-pat package we were given at the beginning and lost even housing support after the first 5 years.Our housing costs rose to 5 times what we paid in Connecticut. The salary did not.” etc.
There must have been an upside, and a considerable one I would think, to make her husband stay for 15 years. So my sympathy is contained because either there is much positive that she’s deliberately leaving out, or they chose to stay in a bad situation and have themselves largely to blame.
So my sympathy is contained because either there is much positive that she’s deliberately leaving out, or they chose to stay in a bad situation and have themselves largely to blame. Sean D. Martin
You sound like one of us, Sean. Welcome aboard!
Dennis: You sound like one of us, Sean. Welcome aboard!
Not sure what that is supposed to mean. I sympathize with her being in a bad situation and her being vilified and threatened. Those should not be happening. I don’t sympathize with her sob story of 15 years spent in a bad situation with no indication that anything was ever done to get themselves out of it.
That’s just what WASPs from Connecticut do, Sean. Suffer in stony silence and never mention it.
I don’t sympathize with her sob story of 15 years spent in a bad situation with no indication that anything was ever done to get themselves out of it. Sean D. Martin
Sounds like the end game for her and her family was that money was being held for retirement and that it was in the form of AIG stock, though she doesn’t say specifically. She said she didn’t seek anyone’s sympathy…”If it were only about money and only about me, I wouldn’t care. But it was the children’s education fund and 15 years of my husband’s work. Even then I could say tough luck, it happens, and get over it, just like the folks at Enron & Lehman. But they were not vilified and threatened. That’s the only reason I spoke up.
It’s always easy to look back and say they should’ve gotten out of that situation they were in, but I suppose they did see some upside in that the company was doing well and that one day if things went like they were, they’d have a nice nest egg for the kids’ education and possibly a somewhat nice retirement. Or maybe her husband thought his hard work might someday be rewarded with a nice managerial position. All risks we all take with our jobs, I guess, but none of us thinks we are going to be scorned for wanting to take a bonus we’ve been promised in good faith and worked hard to earn.
I just can’t think of that many on the right who got as much money from AIG as Dodd did and who screwed up so bad in that whole bonus mess.
Man, it’s so hard to stop snacking on those yummy talking points, isn’t it?
What is it that you’re imagining Dodd “screwed up so bad” D?
You mean when he changed his story on the bonus amendment, QIBbie?
Would you like me to go into that? His being called a ‘lying weasel’ by his hometown newspaper?
You mean when he changed his story on the bonus amendment, QIBbie?
I don’t mean anything. I’m asking what you mean.
His being called a ‘lying weasel’ by his hometown newspaper?
Feel free. But before you do, you might want to look up the word “hometown” and find out where Mr. Dodd calls home.