[read the Olympian article here]
I hope all of the auto manufacturers reject Obama's bailout money and if needed declare bankruptcy. Once the debt is reduced, private investors will come in and purchase the real market value of your company. Your company won't continue with the vision that you had in mind, but it will continue with a vision of prosperity, not of Obama's vision of socialism.
The instant that you accept the money from the United States Government, you have sealed your fate of predestined failure -- and worse you have sealed America's fate of having to subsidize your industry forever.
Governments shouldn't be involved in the private sector. Perhaps if the bailout came with no strings attached, such as a low- or no-interest loan, then I could go along with the idea. However, there are strings attached and that string is an anchor that will forever plague your companies.
The strings are that the government will tell you what to do, how to run your company. It's not enough that they regulate and tax you to bankruptcy, now they want to extend you credit and own you. Bankruptcy is a preferred alternative.
Obama keeps saying that he doesn't want to run the automobile industry, but he has already fired Rick Wagoner, former CEO of GM and he is touting that your companies haven't embraced the alternative energy and is not moving fast enough. President Obama said, "our auto industry is not moving in the right direction fast enough to succeed". Read: I'm going to start telling you what to do.
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