Thursday, May 07, 2009

To be socialist or not, take 3

Another take on UAW over first lien creditors at Chrysler.
The Chrysler negotiations will not be the last occasion for this administration to engage in bailout favoritism and crony capitalism. There’s a May 31 deadline to come up with a settlement for General Motors. And there will be others. In the meantime, who is going to buy bonds from unionized companies if the government is going to take their money away and give it to the union? We have just seen an episode of Gangster Government. It is likely to be part of a continuing series.
Could we see what some have already chimed: Government Motors?

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