Mar 30 2009
Fire and Hire Obama
Maybe the bailout money did have strings attached. After his failure to move decisively, GM CEO Rick Wagoner was asked to step down by the Obama administration. So why stop there? Why not demand more immediate action from other bailout recipients, primarily in the financial institutions. On the other hand, more is needed to jump start the economy than just firing those who are clearly too incompetent.
The Obama Administration should continue to expand their discretion by overseeing the transfer of power, as one CEO replaces another. More importantly, further government oversight may insure that the new guy is heading towards the right direction and not towards the abyss. It is redundant to replace a fat cat with his crony.
