Arnold Kling  

Irony in the News

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Car Czar says GM mismanaged.

Watchdo excoriates execution of TARP.

Of course, in the case of GM, the CEO was fired.


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CATEGORIES: Political Economy



COMMENTS (6 to date)
Jeremy, Alabama writes:

IIRC the CEO of GM was fired at government, or should I say Obama's, insistence.

Arnold Kling writes:

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.

Yancey Ward writes:

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.

max writes:

Who is the CEO of TARP? Liz Warren?

Jeremy, Alabama writes:

My observation was intended to enhance the irony: government fires private sector CEOs it doesnt like, while retaining its own total losers.

Jim Glass writes:

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?


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