Tuesday, June 7, 2011

Great moments in the history of crony capitalism

Want a real-life example of cravenly self-serving? The jerk pictured on the left will be happy to oblige. Read on.

General Motors Co. CEO Dan Akerson wants the federal gas tax boosted as much as $1 a gallon to nudge consumers toward more fuel-efficient cars, and he's confident the government will soon shed its remaining 26 percent stake in the once-bankrupt automaker.

"I actually think the government will be out this year — within the next 12 months, hopefully within the next six months," Akerson said in a two-hour interview with The Detroit News last week.

He is grateful for the government's rescue of GM — "I have nothing but good things to say about them" — but Akerson said the time for that relationship to end is coming because it's wearing on GM.

"It's kind of like your in-laws: It was a nice long weekend. We didn't say a week," Akerson said with a laugh.

And while he is eager to say goodbye to the government as a part owner of GM, Akerson would like to see it step up to the challenge of setting a higher gas tax, as part of a comprehensive energy policy.

A government-imposed tax hike, Akerson believes, will prompt more people to buy small cars and do more good for the environment than forcing automakers to comply with higher gas-mileage standards.

Yeah, because as the economy is about to double-dip here, what we really need is to pay a dollar more a gallon at the pump.

And who doesn't have $41,000 grand laying around to buy the GM's flagship green car, the Chevy Volt?

Of course he's going to say nice things about the feds. Wouldn't you say all sorts of wonderful things about an entity that showered $49.5 billion upon your flagging enterprise?

Oh, you better believe the government is getting out. They can't wait to dump that sinking stock no matter how much of a bath the U.S. tax-payers take ahead of the 2012 presidential election.

And with respect to the nation defaulting on its debt, we found the following to be absolutely priceless:

"We're too good a nation to let ourselves be a banana republic," Akerson said, warning that a default would be "unimaginable" and could hurt auto sales.

Wait, what? You mean a banana republic where an oligarchy colludes with favored businesses to profit them both but where debts incurred are a public responsibility? Those banana republics?

Such is the language of currency in Bailout Nation where the absurdly ironic is passed off as a genuine heartfelt observation.

We've had enough. Good night, now.

1 comment:

Anonymous said...

the government spent 13 billion dollars to bailout a company worth 5 billion.

and that is the math that our leaders are acceptable with.