Economic observers staggered at government’s mortal blow to free enterprise
Paul Joseph Watson
Prison Planet.com
Tuesday, March 31, 2009
The staggering spectacle of a sitting President effectively firing the CEO of a private company heralds the beginning of a new phase in the government takeover of free enterprise, according to shocked economic observers.
Obama’s decision to send GM CEO Rick Wagoner packing on Sunday afternoon stunned a previously buoyant stock market into a 250 point drop on Monday as traders struggled to digest the unprecedented move.
This is just the latest expansion of Obama and his administration’s power grab, using the economic crisis created by the central bankers that pull their strings as an excuse to pose as the saviors while completely sinking any chances of a real recovery by not allowing incompetent banks and corporations to fail.
“Remember, as bad as Wagoner’s performance has been over the years, it was the federal government — not shareholders or the board of directors — that threw him under the bus,” points out CNBC’s Larry Kudlow.
Sen. Bob Corker, who argued in favor of a government bailout of GM, called the Wagoner firing “a major power-grab by the White House on the heels of another power-grab from Secretary Geithner, who asked last week for the freedom to decide on his own which companies are ‘systemically’ important to our country and worthy of taxpayer investment, and which are not.”
He added that the move represents “a marked departure from the past,” “truly breathtaking,” and something that “should send a chill through all Americans who believe in free enterprise.”
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