Bush Buys GM and Chrysler - Leaves Automakers Under the Tree for Obama
December 20th, 2008 by David DanskerEconomy - “Under ordinary economic circumstances, I would say this is the price that failed companies must pay,” said President Bush after approving a 17.5 billion loan from taxpayers. Clearly, these are not “ordinary circumstances” at all. With the nationalization of GM and Chrysler, the public will be treated to environmental restrictions on automobiles that will hearken back to the days of Henry Ford and his first modern auto assembly line production. Then, Ford was the only game in town, and could say with a certainty that you could have any color of car that you wanted, so long as that color was black (the only color Ford painted). When Obama unwraps his presents after inaugural day, he, along with his new Green Czars, will be able to say that you can have any car that you like so long as it is green. That will mean a state manufactured vehicle that is inefficient, over priced, untrustworthy, and hard to get. In a play on historical irony, Ford declined the taxpayer funds and the strings attached–thus far.