Analysis: Auto deal extends Obama's reach, risk

AP via SFGate ^ | 4/30/9 | JIM KUHNHENN, Associated Press Writer

[SmithL]

In forcing a swift bankruptcy on Chrysler, President Barack Obama expanded the risk and reach of the presidency in the hope that the hidebound auto industry will find a way to remake itself.

The government's intervention with Chrysler LLC and General Motors Corp. has been far more intrusive than the way it has confronted troubled financial companies. The administration's influence now ranges from guaranteeing your brake pads to pushing for new products on the assembly line.

As Obama himself put it on Thursday, "If the Japanese can design an affordable, well-designed hybrid, then, doggone it, the American people should be able to do the same."

Despite an additional $8 billion taxpayer infusion into Chrysler, the president and his advisers say the administration has no desire to be in the auto business. And they say they don't intend to micromanage the company.

But as part of the arrangement, the government will be an investor in the new Chrysler company, and the Treasury Department will select four of its new directors, all of them presumably sympathetic with the White House's vision of what the car of the future should be.

[arthurus]

hope that the hidebound auto industry will find a way to remake itself. hope that the industry will be remade by the government into a builder of government cars. If that happens, then the Congress will have to pass protective legislation to guarantee the new entities' sales, like maybe taxing hell out of non-government cars or requiring the pricvate companies to only make government designed cars.

[Spktyr]

As Obama himself put it on Thursday, "If the Japanese can design an affordable, well-designed hybrid, then, doggone it, the American people should be able to do the same."

The Japanese do not have to put up with the UAW, nor do they have to deal with idiotic home country government regulations and taxation when designing a new car. Is Obama planning on fixing that too? Oh, wait....

[wiggen]

he said chryslers problems came from making the wrong cars. nothing about unsustainable pay models.

[Jack Black]

The problem I see is that the latte drinkers all like Volvos and Beemers and Japenese cars. The only people who have traditionally bought Chrysler, Jeep and Dodge trucks are rightwing red-state types.

At this point I would not consider buying anything made by Obama motors. I bet many other Republicans feel the same way. It's the first chance we have to help defeat his entire socialist agenda.

BOYCOTT CHRYSLER

[Jack Black]

The problem I see is that the latte drinkers all like Volvos and Beemers and Japenese cars. The only people who have traditionally bought Chrysler, Jeep and Dodge trucks are rightwing red-state types.

At this point I would not consider buying anything made by Obama motors. I bet many other Republicans feel the same way. It's the first chance we have to help defeat his entire socialist agenda.

BOYCOTT CHRYSLER

[Jack Black]

The article is full of left-wing gobbledegook. The term “stakeholders” appears repeatedly. I am *SO* proud of the bondholders for telling Zero to pound sand.

In bankruptcy there are not “stakeholders” there are creditors with secured and unsecured positions. Bond holders traditionally have first shot at the assets (thus “secured”).

Obama said he didn’t “stand with” them, he thinks they are greedy.

In other words the existing laws don’t apply. “I am the boss, and I have decided! You bond holders have to sacrifice.”

He’s going to end up with even more egg on his face by the time this is done. The UAW has a lot more experience punking negotiators than Zero. The hedge fund guys have a lot more experience being ruthless a**h*l*s than even Rahm.

They are toast.

Anyone wanna buy Dodge cheap? Freeper Motors!

[Spktyr]

Is it really a boycott if you weren’t going to buy their product anyway? :P

[Noumenon]

Bust Obama and the unions for grand theft auto.

[AEMILIUS PAULUS]

People are not looking very far ahead. Now that “The Divine One” and his apostles run the auto and banking industries; guess who sets the employment policies; such as who gets hired! Want to guess who does not get a job!!!!!!!!!

[Ben Hecks]

As Obama himself put it on Thursday, "If the Japanese can design an affordable, well-designed hybrid, then, doggone it, the American people should be able to do the same."

What a stupid statement. Ford has already done that with the Fusion Hybrid.

[Zeppo]

"If the Japanese can design an affordable, well-designed hybrid, then, doggone it, the American people should be able to do the same."

Sarah Palin was mocked mercilessly and unrelentingly by the MSM and pundits and various other polidiots for saying things such as "gosh darn" and "don'tcha know".

I'm certain that we can expect the same treatment of Obama for using "doggone it"... I'm waiting... Still waiting...

Anybody want to bet that that little turn of phrase was scripted by a Commie marketing consultant?