Steny Hoyer Admits That Obama May Not Have the Authority to Oversee Auto Makers Restructuring

  Majority Leader Steny Hoyer has admitted that he has no clue as to whether the president has the authority to oversee the restructuring of the “Big Three” auto makers.

  Naturally he went on to say that congress would grant the president the authority if he doesn’t have the authority that he has already exercised.

  Just in the last week this president has fired the CEO of a private company, assumed the role of CEO of said company, and is now overseeing the restructuring of the company. It seems to me that there is already a procedure in place for this process– one that would not have cost the taxpayers one fucking dime; bankruptcy. But we were told that these companies could not go into bankruptcy for whatever foolish reason and now this president is in essence instituting a bankruptcy type restructuring deal, but this one is on us– the taxpayer. Eventually these companies are going to file for bankruptcy anyway, it would have been a hell of a lot cheaper for us if they were allowed to do so in the first place.

  But I digress, back on topic now.

As I wrote above, the bill is falling on the taxpayers, but should it be? Does the president have the authority that he is now asserting? The rub here is that the senate never approved the auto bailout plan to use TARP money which is supposed to be reserved for financial institutions. This little technicality did not stop President Bush from giving the auto makers the welfare check anyway, and this president is now taking it to the next level.

  I have written in the past that when a company takes bailout money that the government should be able to put some conditions in the deal. But when the president actually starts firing people and overseeing the operations he has gone too far.

  Senator Chris Dodd, who already threw this president under the bus when it came to the AIG bonuses, is a little miffed that he had to find out about the president’s plans to become CEO-in-Chief by reading the newspapers.

Senate Banking Chairman Chris Dodd (D.-Conn.), meanwhile, toldCNSNews.com he was somewhat surprised that the administration did not consult with him at all about its auto industry plan despite his key committee chairmanship and that he had “been reading about it in the papers basically.”

  But what did he expect from this president? The president feels he can do no wrong and that he can’t be questioned for any of his moves. If the president decides he needs to oversee a company’s operation he will, no questions asked. And while right now he has only done this to companies who have received bailout money the treasury secretary, toxic Timmy, wants to expand the government’s power and allow them to take over any company they deem necessary. If this is allowed now then it is only natural that the president would then be able to step in an interfere with the daily operations of those companies, isn’t it?

  Sorry, once again I digressed. I guess I am having trouble focusing tonight.

  Did Chris Dodd really think that the president was going to care what his opinion was? Did he really think that the power hungry president was going to consult with anyone?

  Remember, he won, he will trump you on that Chris Dodd. Did you think that statement only applied to the other side of the aisle?

  This president has the authority to oversee the restructuring and the day to day operations of the auto makers because he said he did. Don’t ask him any questions because is is giving no answers.

  He is above that.