Inspector General criticizes handling of car dealers

Discussion in 'Politics' started by carpro, Jul 18, 2010.

  1. carpro

    carpro
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    http://www.google.com/hostednews/ap/article/ALeqM5hJnwMBE7xMJZVNt_R997OWO3fIVQD9H1O0JG3

    Govt watchdog criticizes handling of car dealers
    By KEN THOMAS (AP) – 5 hours ago

    WASHINGTON — The Treasury Department failed to consider the economic fallout when it told General Motors and Chrysler to quickly shutter many dealerships as part of government-led bankruptcies, a federal watchdog found.

    A report released Sunday by the special inspector general for the government's bailout program raised questions about whether the Obama administration's auto task force considered the job losses from the closings while pressuring the companies to reduce costs.

    SNIP

    Those decisions resulted in "potentially adding tens of thousands of workers to the already lengthy unemployment rolls — all based on a theory and without sufficient consideration of the decisions' broader economic impact," the report said.
     
  2. carpro

    carpro
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    More economic idiocy by the Obama administration.
     
  3. preachinjesus

    preachinjesus
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    Well it was a bad idea when they made the decision. You just don't shutdown businesses like this, and I don't care what industry it is. It was a bad decision, sadly it seems that those whom we have elected to conduct the affairs on our behalf have sold the farm on us.
     
  4. rbell

    rbell
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    Fascism is a bad idea.

    Imagine that.
     
  5. Bob Alkire

    Bob Alkire
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    I would say so, but BHO isn't the first president that went in that direction, it was FDR. The NRA was adapted almost entirely from "corporatism," the economic system of Italian fascism. It was bad then and it is bad today.
     

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