Timmy "Eddie Haskell" Geithner isn't backing down on the idea that central planning will save our economy. Never mind that centrally planned economies don't work and never have worked anywhere before... this shyster and his malevolently Marxist boss Obama have decided that they know better than the shareholders and the boards that run these institutions.
The government has their hooks in these companies and they won't ever disgorge ownership and lose the power to play politics with the largest companies in our economy. Apparently it never occurs to the Katie Courics of the world that this band of marauders will just continue to create crises (like the made-up scandal of the AIG bonuses). They will use the crises to continue to expand their political power, with little or no regard given to the displaced and hurt workers, executives, and shareholders of these unfortunate institutions.
Wake up, people. Geithner, Obama, Fancy Barney Frank, Reid, Pelosi, et al, have zero incentive and zero desire to see these companies do anything but struggle along, dependent upon the next government handout.
Who would have thought that 60 days into Obama's reign of terror, he would have the power to essentially decide who works and who starves in our "free" market. In the long run, markets dislike uncertainty. What could possibly be more uncertain than having (most) every CEO subject to dismissal by a bunch of bureaucrats?
To watch this video turn down the volume on the blue player to your right. Hint - if you lower the volume and don't hit pause, it will remember the lower setting when you refresh/return. If it doesn't start, hit REPLAY. Thanks
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