Straight out of Atlas Shrugged

The future of the auto industry, from

The [Wall Street] Journal report quotes one anonymous — but asinine — Obama administration official as opining that:

“You don’t need banks and bondholders to make cars,” said one administration official.

…that official — who’s probably never run any business more complicated than a lemonade stand — will soon discover just how wrong s/he was. It’s called CAPITALism for a reason, after all.

…If creditors get tired of getting screwed, the Chrysler debacle and the looming repeat at GM may mark a major shift in the ability of American business to finance operations and growth.

At least if there is union or government involvement.

RTWT and don’t skip the comments.

1 thought on “Straight out of Atlas Shrugged”

  1. Ford is an interesting puzzle. I get a headache trying to formulate a vision of its future.On one hand two of their primary competitors are on the ropes. Worse for them, they are entering an era wherein they will be owned and run by their labor union and the general government. Surely Ford will have the advantage in designing and building products that people will want to buy.But the same union running GM and Chrysler will have the power to strike against Ford. And the same general government running GM and Chrysler has the power to enact laws that affect Ford. Not only that, but Ford still has to pay their bondholders (or so it would currently seem).