Obama Demands and Receives the Resignation of GM CEO Rick Wagoner

  FIrst let me say that if Rick Wagoner, GM CEO, ran General Motors during the fall of GM (which he did) than he should resign for leading the company into the state they are currently in. I do not feel sorry that this incompetent man has stepped down, perhaps if he did this a few years ago GM wouldn’t be in the situation that they are in.

  Second let me say that I have gone on record as stating that once a company accepts federal (our) bailout money that I have no problem with the government stepping in and imposing some regulations and stipulations in return for that company taking our money.

  Having stipulated both of the points above I have to say that the idea that the Obama administration had the wherewith all to call for, and receive, the resignation of Rick Wagoner way over the line.

  We learned earlier today that Rick Wagoner had decided to step down as CEO of General Motors. While his resignation was justified and warranted what was not justified was the fact, which we learned later on, that the president of the United States demanded that Rick Wagoner step down.

  Rick Wagoner did not deserve to keep his job, that goes without saying, but it should not be the president who has the ability to fire people who run private businesses no matter how inept that person is. The stockholders or the Board of Directors should be making that call. Even Obama’s biggest supporters have to realize that the president has vastly overstepped his bounds here.

  This is a dangerous precedent that the president is setting here. While General Motors accepted federal bailout money and should be required to submit to some government oversight the idea that the president can decide who should be fired is pretty damned scary. Especially in light of the news that tax cheat toxic Timmy Geithner is pushing for a massive expansion of government powers that would allow the government to take over whatever company they decided needed taking over even if said company did not accept federal bailout money.

  Under toxic Timmy’s plan the government could seize any company that the government felt might fail. If that is the case than once the government has control of that company couldn’t the president then decide if the CEO should be fired? We are treading on dangerous water here as a nation. Where will this stop?

  The government is already talking about limiting the pay of executives, including executives of companies that do not receive federal bailout money, and the government is already talking about taking over companies that they deem it necessary to take over. The government is expanding power at an alarming rate and everyone who cares about the constitution should be worried about this turn of events.

  Will this crisis reach the point where the president will decide that elections will have to be suspended until the crisis is under control? Will this crisis reach the point where the constitution will need to be suspended to help America survive?

  Those questions may sound absurd and ridiculous, and I am just using them to illustrate my point, but the notion that a president could demand the CEO of a private company resign sounded absurd to me just a few short days ago. This administration has declared a war on capitalism and I find it just a little disturbing.

  America once was the place where people came to realize their dreams, now it is the place where those dreams can be taken away at the whim of the president. To think that people still laugh it off when you call Obama a communist…..

Communism:

 (emphasis mine)

1. A system of government in which the state plans and controls the economy and a single, often authoritarian party holds power, claiming to make progress toward a higher social order in which all goods are equally shared by the people.
2. The Marxist-Leninist version of Communist doctrine that advocates the overthrow of capitalism by the revolution of the proletariat.

  We have seen the beginning of a revolution of the proletariat with the protests of the  AIG bonuses, the same bonuses that were allowed and in fact orchestrated by the Obama administration in general and toxic Timmy Geithner in particular.