Friday, March 20, 2009

Throw the Frog In!

GM Chief Executive Officer Rick Wagoner and Chrysler’s Robert Nardelli have been “exceptionally cooperative,” “thoughtful,” and “energetic,” Rattner said.

“They’re good guys really trying hard to run those companies,” Rattner said. “I have nothing bad to say about them.”

Steven Rattner is the Obama "car czar" called upon to sort out the nation's automakers.

This may be a good example of a significant problem not simply at the automakers, but in the dealing with the financial crisis as a whole. The Orwellian "nicespeak" and back slapping seen in congressional testimony is obscene.

Our current problem is the result of errors of judgement and ethics by people. No amount of massaging sensitivities will right that macro misjudgement.

The foot dragging has to end. The financial balance sheets must be cleaned up and blood will be spilt......and then we will get on with the job of rebuilding.

We as taxpayers own 80% of AIG, and very significant interests in the largest banks in the country. Throw the frog in the the pot and he'll jump out. Cook him slowly and it's, "pass the garlic butter."

John Barnyak