First we had the Government induced Dodd/Frank Mortgage and Banking Meltdown. Now these same incompetent, corrupt boobs are heading up efforts to bring congress' scary business talents to bear on the Auto Industry. Investors Business Daily puts this insanity into perspective:
"...That leaves the latest bright idea from Congress: a broad, federally mandated restructuring of the Big Three in exchange for financial help. Congress would in essence become the Big Three's uber-manager, telling them how to become profitable again.
Excuse us, but are we supposed to believe that the same Congress responsible for next year's estimated $1 trillion deficit can profitably run a market-sensitive company like a car manufacturer?
Or that the same Congress that sat on its hands as the financial meltdown unfolded and helped create the mess will know how to financially restructure America's highly complex auto business?
Or that the people who just last year imposed $85 billion in new "efficiency" standards on a teetering industry will be savvy enough to run them anywhere but further into the ground?
Does Congress have the know-how to do this? We looked up the background of the majority Democrat members on the Senate Banking Committee who grilled Big Three CEOs last Thursday, and who will decide the outlines of any bailout plan. Out of 11 members, just one — Montana's Jon Tester, a farmer and former manager of a butcher shop — had any real business experience.
None of the rest, from committee chairman Chris Dodd on down, has any private-sector experience to speak of, apart from brief stints at law firms. Fact is, Congress isn't equipped to run anything... "
Excuse us, but are we supposed to believe that the same Congress responsible for next year's estimated $1 trillion deficit can profitably run a market-sensitive company like a car manufacturer?
Or that the same Congress that sat on its hands as the financial meltdown unfolded and helped create the mess will know how to financially restructure America's highly complex auto business?
Or that the people who just last year imposed $85 billion in new "efficiency" standards on a teetering industry will be savvy enough to run them anywhere but further into the ground?
Does Congress have the know-how to do this? We looked up the background of the majority Democrat members on the Senate Banking Committee who grilled Big Three CEOs last Thursday, and who will decide the outlines of any bailout plan. Out of 11 members, just one — Montana's Jon Tester, a farmer and former manager of a butcher shop — had any real business experience.
None of the rest, from committee chairman Chris Dodd on down, has any private-sector experience to speak of, apart from brief stints at law firms. Fact is, Congress isn't equipped to run anything... "
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