Obama’s flawed auto logic

President Barack Obama insists he doesn’t want to run the domestic auto industry — and we should all be thankful for that.

But his actions speak differently — and we should all be worried.

“… I rejected the original restructuring plan” that Chrysler LLC submitted for government loans, he said April 30 in announcing his decision to force Chrysler into bankruptcy. “… And the standard I set was high — I challenged them to design a plan …”
.
That’s a lot of self promotion and involvement from a guy who doesn’t want to control the companies.

By Manny Lopez
Detroit News

To be sure, the government, with the investment of $4 billion in our tax dollars in Chrysler and $15.4 billion in General Motors Corp. needs to set guidelines and rules for repayment. If not met, call the loans and get our money back.

But forcing a private American company into bankruptcy because the president thinks it’s the most prudent action. Um, no. Not by any measure.

Read the rest:
http://detnews.com/article/20090507
/OPINION03/905070376/Obama
-s-flawed-auto-logic

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