Sunday, March 29

"Most Dramatic Government Intervention in Private Industry

Wall Street Journal reports:  that the Obama administration forced out Rick Wagoner by threatened to withhold more bailout money.  They call this the "most dramatic government intervention in private industry since the economic crisis began last year."

Hang on.  This isn't "intervention in private industry" which no doubt the WSJ and its readership regard as the tell tale sign of socialism.  In the absence of government "intervention" GM would have been bankrupt in October.  GM has always had a choice.  

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