November 22, 2009
From Intuitionism to Contrarianism: A Case Study
November 21, 2009
From Poverty to Prosperity Watch
November 21, 2009
Axel Leijonhufvud, Recalculation Theorist
November 21, 2009
A Turning Point?
November 20, 2009
Are Markets Efficient? Krugman vs. Kling
November 20, 2009
Me on Market Wrap
November 20, 2009
From Poverty to Prosperity Watch
November 20, 2009
Dominating the Narrative
November 20, 2009
Haunted By the Hitler Hypothetical
IIRC the CEO of GM was fired at government, or should I say Obama's, insistence.
If the government had not gotten involved, GM would have gone bankrupt. The CEO would have not been spared in that instance.
In any event, the CEO of TARP will never be fired.
You can be sure of two things:
1. GM will continue to be mismanaged.
2. No government official will ever make such a proclamation again.
Who is the CEO of TARP? Liz Warren?
My observation was intended to enhance the irony: government fires private sector CEOs it doesnt like, while retaining its own total losers.
I really enjoy Rattner's tale here of how he had to get rid of GM's CEO Rick Wagoner because of how shockingly incompetent he discovered GM's top management to be, through and through.
Driving Rattner to so bravely take the unprecedented step of inciting no less than a cultural revolution with GM's management by replacing Wagoner with Wagoner's own #2 man, Fritz Henderson (!)... following Wagoner's recommendation.
Has such radical heroism in industrial policy ever been seen before?