Obama asserts government control over the auto industry

[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.

[mattdk318i]

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

[kronus]

In before everyone whines about Obama and stuff

[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.