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Today's Nuze

"Every government interference in the economy consists of giving an unearned benefit, extorted by force, to some men at the expense of others."

Ayn Rand

Nobody's listening.

OUSTING CEOS STILL A POSSIBILITY

By
Neal Boortz
@ May 8, 2009 8:37 AM
Permalink | Comments (15) | TrackBacks (0)

After releasing the results of these "stress tests" ... the Obama administration says that it is still open to the idea of government dictating management changes at these companies receiving "substantial" government aid. Robert Gibbs says the government would consider changes at the CEO level and at the board of directors level in order to make sure "that the management was in place to remedy the situation and ensure long-term viability without continued government assistance."

Tax cheat Timothy Geithner also echoed this sentiment. He says, "We'll have to make judgments about whether the quality of leadership of those boards is strong enough so that again our interests are met best." Did you hear that? "Our" interests. Who exactly is he speaking for? The federal government .. the Obama administration .. the Treasury Department .. the taxpayers? Either way, I am still waiting for someone to show me where in the Constitution it says that the executive branch of our federal government can remove anyone from a private company.

Again .. I'll point out, though it won't register with most people, that there is a name for an economy where the means of production are privately owned but controlled by the government. That would be a fascist economy. Not that anyone really cares.



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What others are saying

  • @Marty McFly
    Do you have any video of your "Liberal" friends twitching on the floor? Post it on YouTube!
  • To Marty McFly
    You are correct. What is going on here is 100% fascism. Democrats right now are just like Republicans right after Bush won. They will protect their President to the end. What they do not realize is that Obama is just continuing the fascist policies that Bush put into place. Obama has actually expanded those policies. You have to wonder what is really going on behind the scenes.
  • OUSTING CEOS STILL A POSSIBILITY
    The first that needs to go is Prez himself ... of course only after his "board of directors" are ousted.
  • Throw the rascals out!
    Odd. The gub'mint as a large shareholder (but not holding a majority of shares - not even a plurality of shares) can "toss out" the CEO or change the board of directors. Interesting. Where, oh where, is the proxy (the process whereby shareholders get to vote on the proposal)? There isn't one? How odd. Of the several companies whose stock I (via my 401k) own, I haven't seen one, NOT ONE, such proxy call. Could it be that the grand, almighty, omnipotent, exalted president of the United States is pre-empting due process, ignoring corporate by-laws, and exceeding the authority vested in his office by the Constitution of the United States (a document he's sworn to uphold)?
  • Fascism
    I just love pulling this one on liberals. I ask them about BHO removing CEOs from companies, and they think it is a good deal. I then ask them what sort of socio-economic system that is.

    They usually respond 'socialism'. I then explain to them that private business managed by the government is the book definition of fascism. I invite them to look that up in the dictionary.

    This is usually where they go into vapor lock and stop responding. Once in a while I can tap them on the forehead and they will fall over and just twitch on the floor. Most entertaining!
  • Hitler was making management changes too
    He "created" Volkswagen. And like PrezBO, threatened people who opposed his plans. Just ask Tom Lauria about the Chrysler deal. Lauria summarizes the developing Chryslerf#%k best:

    “The President is trying to abrogate contractual rights; if he will attack that contractual right, what right will he not attack?”

    Apparently, he feels nothing can stop him now from "remaking" America in the socialist/communist mold.
  • All for show...
    We are watching a carefully prepared show put on by the elite oligarchs. They are in complete control. Its almost funny. We are basically the fish in the fish tank and these politicians and financiers are tapping on the glass with a hammer. Constantly weakening the integrity. Soon the glass will break. Question is are you going to scramble to stay in the fish tank or are you going to take you chances on the outside.
  • RE: fault.
    Their is certainly blame to go around. The offer should have never been made. Unfortunately dangerous precedents had already been made and we are just following a path that leads us to the inevitable and complete removal of all of our real freedoms.
  • @Poe
    In answer to your question...

    Picking up and leaving everything you know for a better life is something that winners do.
    Liberalism is like a parasite on the back of a free society. A parasite cannot function on its own. It must feed off of something else that is capable of sustaining both parties.
  • their own fault
    I might be wrong, but didn't the government become stockholder in companies that accepted TARP money? Stockholders obviously have the ability to dictate who is running the company and how much they get compensated. (although they normally don't do this as often as they should). So by that scenario, the government should be able to dictate who is in charge.

    This is dependent on my assumption that the government has a majority of the shares of each company which is probably a stretch.

    regardless, this is the fault of the businesses who ran to the government to save them when they should have just failed. I blame them, they asked to be put in this position. (except for the banks that were forced to take TARP money obviously)
  • hijacking and corrupting the language
    Neal you are right about fascism. (The textbook definition of the economic system called fascism is one where the business is privately owned but controlled by the government.)

    However, because leftists in the US have hijacked and corrupted much of the English language to suit their political M.O. i.e. ("investment" for spending, "paying their fair share for "progressive tax system" etc.) the connotative meaning of fascism has been hijacked as well.
    Since Hitler was called a fascist but in reality was a socialist, (For you government school types, the "S" in NSDAP is for "Socialist") leftist have co-opted the "fascist" term as an epithet to anything that is not "left of center".
    As you have said, "The biggest danger to America is the government school system", and you are right again.

    Here is a question for you and your listeners:
    Why do people who abhor the ideas on which America was founded, individual liberty, personal responsibility, small federal government, actually stay in America? They could go to other countries that have what they are looking for, big nanny style government and high taxes. Several European countries and Canada are like that. The question as to why they stay perplexes me.
  • Names
    There's also a name for a system where the government is directly controlled by corporate interests and lobbyists... it's called "Republican SOP."

    Curiously, a lot of self-proclaimed libertarians seem to be fans of such a repressive system too.
  • A communist at work!!
    WOW - seems more like Lennin and Stalin everyday!!

    "Off with your head if I "The Choosn One" does not approve of you! I will put my own tax cheats in charge!!
  • It's TRAP!
    They call it "TARP" money, but they mispelled it, because it's really "TRAP" money. Once you accept some money from the Gustapo, then, the Gustapo all-of-a-sudden owns your business. You're TRAPPED like an animal at that point. Isn't socialism fun!
  • Constitution isnt in play
    I dont think this is about the Constitution as much as it is about the Articles of Incorporation of each business. The federal government is now a pretty big investor in all these companies. If they didnt want a substantial shareholder to make business decisions, then they didnt have to take the money. If they dont want the federal government to make decisions, then return the money publicly(so they cannot say the government forced them to take it and keep it) and run the business on your own.
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