An Ultimatum for Carmakers From Obama – NYTimes.com:
“‘And so today, I am announcing that my administration will offer G.M. and Chrysler a limited period of time to work with creditors, unions and other stakeholders to fundamentally restructure in a way that would justify an investment of additional tax dollars; a period during which they must produce plans that would give the American people confidence in their long-term prospects for success,’ Mr. Obama said.”
(Via NY Times.)
If only private shareholders, particularly institutions, would be so activist, we wouldn’t be in a far better position.
2 thoughts on “Doe or Die”
THIS is what the president and his cronies should be doing to the banking industry as he strips THEM of power and gives it to the Post Office!!!
IF the Post Office was in the credit card game WE wouldn’t be paying more than 5-18% interest, and people in mortgage trouble wouldn’t be victims of that new breed of vultures—the mortgage “gurus”
Like Mayor-for-life Bloomberg’s NYC cigarette taxes, Obama has unwittingly created a black market-like cottage industry—mortgage “helpers”
Good government is always in an arms race with the hustlers.