A Most Dangerous Precedent…

Over the weekend, the Obama administration “requests” the CEO of General Motors to resign. And he does.

Regardless of the current financial situation of GM, or the partial bailout funds GM has received, this is probably the most egregious–and frightening–move the administration could make.

The amount of interference of the government currently in private corporations should make ANY company reconsider the use of any bailout funds. Perhaps even cause those who have received to very quickly reconsider and pay back funds they may have received.

I understand the need to protect the usage of the public bailout finds. But if stipulations were not already built into the stimulus bill, the administration should not be following up after the fact to dictate to companies the moves they must make. Those companies should know upfront what the terms and conditions are. That is one of the problems with rushed–and poorly written–legislation. And the blame for that, my friends, lies squarely with the administration.

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