Kurt Ullman wrote in
:

In article , Dan Espen
wrote:

Kurt Ullman writes:

In article , Dan Espen
wrote:


Government HAS NOT taken over _any_ banks or automobile companies.
You're in some kind of deluded dream world.

Of course they have. They gave them money and the government has in
the past, and is currently, telling many of these companies what
they can and cannot pay in dividends, executive bonuses and other
areas.

I don't have the inclination to look any of this up, but what you are
describing is STANDARD for any large scale investor.
Not hardly. These are all done by the Board of Directors and the
Feds
have no direct reps on most of the Boards. Even so, few large scale
investors (especially in places as big as car companies and banks)
have enough votes on the board to mandate these things. The Feds in
this instance have come in as an outside entitity and told the board
what they could or could not do.


That does not constitute "taking over".
Pretty much by most definitions.

IIRC, it was a question of letting the car companies go under, or
"invest" big money in them. Anyone who had the inclination to "invest"
such sums would have negotiated some kind of oversight of what the board
could or couldn't do after the "investment" was made.

And, FWIW, Ford management overcame their problems without aid from the
government. Makes me think GM management was quite a bit at fault. Just
to make sure you understand this liberal progessive, I find wages and
benefits for UAW workers high, but "free" enterprise negotiated those,
right?

--
Best regards
Han
email address is invalid