April 22, 2009

King Obama Decrees

Neither Holman Jenkins (or his illustrator) have quite gotten the message of Hope and Change:

So King Barack the Mild is finding as he tries to dictate the terms of what amounts to an out-of-court bankruptcy for Chrysler and GM. He wants Chrysler's secured lenders to give up their right to nearly full recovery in a bankruptcy in return for 15 cents on the dollar. They'd be crazy to do so, of course, except that these banks also happen to be beholden to the administration for TARP money.
They've already seen that the rights and privileges of shareholders are not worth diddly when the king is throwing his prerogatives around. He dispensed with the services of GM chief Rick Wagoner, though the king owned not a single share of GM stock at the time. His minions communicated the king's pleasure that GM consider discontinuing its GMC brand, maker of pickups and SUVs that offendeth the royal eye -- though these vehicles earn GM's fattest profit margins.

His minions haven't asked GM to give up the Chevy Volt, even after determining it will be a profitless black hole, because of the king's fondness for green.

GOP Planks Posted by John Kranz at April 22, 2009 12:54 PM

I just wish it wasn't the hard-earned green in my wallet that Obama had such a fondness for.

Posted by: Keith at April 22, 2009 2:58 PM

Good stuff.

These commentators are being far too kind to our new president. He has dictator written all over him. But he's actually the best thing to come along in many years...because he has so very nicely crystallized everything so people can see the true differences between altruism and egoism.

Posted by: Russ Shurts at April 23, 2009 8:49 AM

Hmmm. There's that d-word again.

Posted by: johngalt at April 23, 2009 12:36 PM

I'm still not quite to the d-word, jg, but if the Administration carries through with show trials for Bush Administration officials on torture, you'll have me.

Posted by: jk at April 23, 2009 1:37 PM | What do you think? [4]