Obama’s Task Force

On March 30, 2009 President Obama told the nation that he had “no intention” of running General Motors, right after he had“asked” the company’s CEO to resign and rejected the restructuring plans of the two auto giants.  So who does he pick to do the restructuring?  Why, the government of course!  And who would do a better job?  I mean, look at all the wonderful things our government has done with education, mail service, the Department of Motor Vehicles, FEMA, social security, welfare and so on!  I don’t know why they’d want a private individual to take over.  That never works!  So what exactly is this task force in charge of when it comes to General Motors?  Well according to GM’s own news release that came out last April, Obama’s Task Force via the U.S. Treasury “…will be able to elect all of our directors and to control the vote on substantially all matters brought for a stockholder vote.”  The statement also added: “In addition, through its stockholder voting rights and election of directors, and its role as a significant lender to us, the U.S. Treasury will be able to exercise significant influence and control over our business if it elects to do so.”  I don’t know, that kinda sounds like running a business to me.  But what do I know? I didn’t go to Harvard.