Obama asserts government control over the auto industry

[Beach Bum]

"President Barack Obama asserted unprecedented government control over the auto industry Monday, bluntly rejecting turnaround plans by General Motors Corp. and Chrysler LLC, demanding fresh concessions for long-term federal aid and raising the possibility of quick bankruptcy for either ailing auto giant.Obama took the extraordinary step of announcing the government will back new car warranties issued by both GM and Chrysler, an attempt to reassure consumers their U.S.-made purchases will be protected even if the companies don't survive.
"I am absolutely committed to working with Congress and the auto companies to meet one goal: The United States of America will lead the world in building the next generation of clean cars," Obama said in his first extended remarks on the industry since taking office nearly 10 weeks ago. And yet, he added, "our auto industry is not moving in the right direction fast enough to succeed.""

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So far, we've nationalized the banks and now the auto industry. This president is marching this country into socialism. How much more control are we going to allow this government?!

Honestly, this scares me. Badly.

[kronus]

In before everyone whines about Obama and stuff

[mattdk318i]

hes a socialist.....saw it coming... And so did thousands of others. Whos in for being a communist!!!???

[T Verdier]

So he's taking control of something that is out of control that we need.
Is this bad? I don't know or care about politics much but this seems alright to me.

[Collin]

So he's taking control of something that is out of control that we need.
Is this bad? I don't know or care about politics much but this seems alright to me.

I'll simplify it for you:

everyone criticizes the way American car companies are run, so obama says "fuck you American car companies, we just gave you a shit ton of money so straighten up and fly right, or I'm going to put my official POTUS boot up your asses".

and the internet goes wild!

[Funkmasta]

No more black cars in California

Just saying.

[mrsleeve]

So he's taking control of something that is out of control that we need.
Is this bad? I don't know or care about politics much but this seems alright to me.

Very bad, now we have federal govt. meddling in private industry, which it dose not have to power nor can congress grant to power to do. But hey the Constitution is just a hunk parchment we dont need that anymore.


Welcome to the change enjoy it comrade




now just where did I leave my hammer and Sickle

[Collin]

No more black cars in California

Just saying.

Blame california, not Obama.

[mattdk318i]

Very bad, now we have federal govt. meddling in private industry,

and thats the problem. And how all of it starts.

[s0urce]

*double face palm*

[Alkasquawlik]

stupid liberals.
ive been arguing all day with all of my stupid roommates and friends who thinks this is an amazing idea.

[jrhaile]

So an early 40 something year old who has ZERO experience running any sort of major entity knows how to run a GIANT industry but can't pick people to run his cabinet that know how to do taxes. Irony is a motherfucker.

[Farbin Kaiber]

lulz. I was gonna post this this AM, but I knew someone else would.

[E30 Cabrio]

So an early 40 something year old who has ZERO experience running any sort of major entity knows how to run a GIANT industry but can't pick people to run his cabinet that know how to do taxes. Irony is a motherfucker.

Amazing, isn't it? The guy has never held a job in the public sector and suddenly he is a Captain of Industry and knows how to run GM better then people who have been there for 35 years.

This is nothing but a payback to the unions that supported him during his candidacy.

It's sad that we have a bunch of "I don't care" people who don't even see what's happening when it's happening right in front of them.

But hey, he sounds good reading a teleprompter so he must know what he's doing.

It's the ignorance of people that get people like Obama elected.

This guy isn't qualified to run a hot dog stand.

[Beach Bum]

I have an AP news app on my cell, and I was reading this on the toilet. I literally shat myself and said "Oh dear sweet Lord, if this isn't on R3V or E30T already I'm sure as hell gonna post it".