As ressurected GM is about to sell its shares at huge profit, with demand exceeding available shares sevenfold, I hope ha the Obama adminstration will be all over airwaves tomorrow to herald its unqualified success for decisive, bold steps saving an American Icon and thousands of jobs. After all, it is never too late to finally learn how to sell one's achievements.
But I would like to take this time to remind you all about republicans' and their friends' reaction last year. With Drudge, as always, leading the way, they called "Government Motors".
Enjoy after the fold!
Rasmussen:
Adults in the United States are disappointed with the federal government’s decision to take ownership of automaker General Motors and provide $30 billion U.S. in additional bailout funding, according to a poll by Rasmussen Reports. 53 per cent of respondents believe the course of action is a bad idea.
http://www.angus-reid.com/...
Sen. Bob Corker
"`It's most unusual. The government is highly involved, and it's a threshold we should have never crossed.''
Sen. McCain:
'Let US car giants go bust'
http://www.couriermail.com.au/...
Sen. Shelby:
First of all, I advocated last fall that General Motors' and Chrysler's best bet would go to Chapter 11 then. It would have saved a lot of money — not a political restructuring, like what's happened, where the bondholders have been sacrificed. The unions have carried the day.
You've got a combination now, the unions and government, government ownership in General Motors — the majority — and the — and the unions. I don't see a good model to make money for these companies to survive down the road.
I believe that there's no doubt that we're going down to government intervention everywhere, government ownership, unprecedented in this country
http://www.foxnews.com/...
Rep. Price:
"'When did the president become an expert in strategic corporate management? The federal government is famous for its mismanagement, yet this administration continues to demonstrate its certainty that Washington always knows best.'
Rush Limbaugh:
There's always been a line, ladies and gentlemen, over which no president would cross with respect to the distinction between the public and private sectors. Obama has now crossed that line where there is no limit to government's destruction of private activity or control over it.'"
http://www.cbsnews.com/...
Romney:
I mean, I'm a son of Detroit. My dad was an auto executive. You know, I drive American cars. I love American cars. My heart bleeds for the people in Michigan and Detroit, for all those auto workers.And as a result, the government ends up with over 70 percent of G.M. and the UAW some 17 percent.That whole approach, which obviously is one that Barack Obama is wedded to, is the wrong approach for America.
http://www.foxnews.com/...
Rep. Smith:
The government-led bankruptcy reorganizations have been the leading edge of the Obama administration's war on capitalism
Rep. Franks:
When Washington gets involved in a company, the disaster that follows is predictable
http://www.upi.com/...
Gingrich:
government intervention to boost companies like General Motors Corp. has "already failed. Bureaucrats managing companies does not work, politicians dominating the economy does not work
http://noir.bloomberg.com/...
Gerald Meyers, former chief executive of American Motors Corp.:
"Politicians and pressure groups and the like are not good business people and could very well lead the company in an unproductive direction, maybe a lethal one''
http://www.heraldsun.com.au/...
Sen. Inhofe:
"In Congress, we are currently considering an irresponsible $14 billion bailout of the Big Three auto manufacturers," Senator Inhofe.
"This legislation empowers one unelected bureaucrat, which has come to be known as the `car czar,' to spend money how he sees fit to keep the auto companies afloat and make the U.S. government part owners of the companies...
"The `car czar' will also be empowered to dictate how these companies are to structure and run their business. This is a bureaucratic, command and control approach to industrial policy in lieu of market forces and Chapter 11....
"Why do we now believe that government bailouts and government ownership of shares of these companies without a clear idea of what these companies will do to significantly alter their business models, at least until well into next year, is going to be a successful venture? The history of even the last couple decades clearly shows that the approach we are considering in this legislation has a track record of waste and failure. We need to ask ourselves: Are we not simply throwing good money after bad? More importantly, are we not simply throwing taxpayer dollars down the drain?
Sen. DeMint:
The argument that is being made today is that people will not buy a car if a company is in bankruptcy, is a bogus argument. Americans are not stupid... They know that this bailout is only a temporary solution. They're much less likely to buy an American car with this bailout plan.
And who can forget this wonderful thoughtful propaganda video from RNC:
http://www.youtube.com/...
This is just a small sample that took 20 min to assamble. One with a bit more than on her hands will find more amusing stuff.
I hope that public will learn lessons about this. And I do look forward to a lot of silence from the right tomorrow. Will our objective pseudo-media notice the story that screams? Will talking heads asks these questions during Sunday shows? Don't hold your breath, folks.