General Motors' chief, Rick Wagoner, was "asked" to resign yesterday, and he did. The person asking (forcing) Mr. Wagoner to quit was not a shareholder or a company board president; it was the current Uterus-in-Chief (aka Obama Dead Eyes). This is a page out of Atlas Shrugged or one of the many ignominious periods in capitalism's history. Here's a letter to the Wall Street Journal I wrote on the subject today and submitted:
The expulsion of GM chief Rick Wagoner by President Obama must spook any lover of capitalism – and we surely knew this day would come, once government insinuated itself more forcefully upon the free market with its “bailouts,” and once the corporation chiefs made a devil’s bargain with politicians.
If you’re familiar with history and are sensing déjà vu, read what Time magazine glowingly said about its Man of the Year in 1938:
"Most cruel joke of all, however, has been played by Hitler & Co. on those German capitalists and small businessmen who once backed National Socialism as a means of saving Germany's bourgeois economic structure from radicalism. The Nazi credo that the individual belongs to the state also applies to business. Some businesses have been confiscated outright, on other what amounts to a capital tax has been levied. Profits have been strictly controlled. Some idea of the increasing Governmental control and interference in business could be deduced from the fact that 80% of all building and 50% of all industrial orders in Germany originated last year with the Government.”
And yes, Mr. Wagoner, many of those businessmen were “asked” to leave by the “Man of the Year,” Adolf Hitler – not by shareholders or corporate boards, as is done in a truly free world.