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Government Takeover of GM is Unconstitutional and Illegal

By: Steve Johnson

4/2/2009 - 178 Comments

The Obama administration has taken over a private owned company and fired its CEO and board of directors without the constitutional authority to do so.

This is not supposed to happen in America.  The government has no authority in the constitution to take control of a private owned company or fire its staff or decide what to do with its assets.

This is clearly a political power grab, just as Obama has no plans to fire UAW president Ron Gettelfinger for forcing GM into high wages and benefits that drove GM into this crisis.  The union votes are much too important come time for re-election.

In the same speech that Obama fired the GEO of GM, he pushed his plan to build ‘greener’ cars with higher fuel standards, even though everyone knows that the reason GM hasn’t built these cars is because they are not profitable.  But, that don’t matter to Obama, because he not interested in a profitable GM. This takeover will result in HIGHER costing cars with HIGHER taxes to drive them.

Obama is focused on a political agenda to push the nation into a higher energy cost platform so that his huge ‘cap-and-trade’ energy tax plan can be implemented – and everyone can be taxed for all energy use.   Ron Paul explains how the ‘Cap-and-Trade’ is really just a massive tax plan.

“Cap and trade, in other words, is a scheme to redistribute income and wealth — but in a very curious way. It takes from the working class and gives to the affluent; takes from Miami, Ohio, and gives to Miami, Florida; and takes from an industrial America that is already struggling and gives to rich Silicon Valley and Wall Street “green tech” investors who know how to leverage the political class.”

GM should have been in bankruptcy months ago, so that the bankruptcy court could have fired the management and forced the UAW into lower wages.  That would have saved the billions in tax payers money that the government give this failing company. 

For the better of the entire economy, bankruptcy is the best option for a failing business.  Yet, the government leadership is still refusing to cut back on its own spending but doing just that opposite – moving the entire nation closer and closer to national bankruptcy.

Lawrence Kudlow said is best,

“As for Detroit, the carmakers should have been in bankruptcy months ago. And it is a bankruptcy court that should have fired GM's Wagoner and his board. Along with some serious pain for bondholders, bankruptcy would have broken the high-cost labor contracts with the UAW as well as carmaker contracts with dealers across the country. That's what bankruptcy courts are for. They're part of the free-market capitalist system. “

Where is the outcry?  Where the media to question the legal authority to overtake a private company?  This is a direct violation against the liberties of American’s given by the constitution to own private property.  Congress should create a subcommittee to consider the legal action to impeach Obama for executing power that he does not have.

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