"...what he actually did -- oust a sitting CEO, GM's Rick Wagoner, and begin the process of remaking a board of directors..."
In one swift act, the president effectively overruled the oversight and fiduciary responsibilities of GM's directors, duly elected by the automaker's shareholders, because he could -- and the federal government, officially a lender of $13.4 billion to GM, doesn't own a single share of the automaker.
"Firing a CEO is usually what a board does," says Peter Henning, a law professor at Wayne State University who worked in the enforcement division of the Securities and Exchange Commission. "We now have a CEO-in-chief ... overseeing large sectors of the economy. We are certainly in a brave new world."
The issue is principle and the lengthening arm of government into commerce. How can corporate governance and the fiduciary responsibility of directors to shareholders be so easily usurped to satisfy the political exigencies of the day? Stunning is too mild a word to describe the precedent set here.
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re: "the precedent set here"
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re: "the precedent set here"
Quoted comment from: U.S. Government Taking Over Automakers 9-25-08: "In addition to the mortgage industry, the insurance industry, and Wall Street, the U.S. automakers are soon to become the property of Big Brother also."
The precedent set here is ominous and sends a clear message. The U.S. automakers becoming the property of Big Brother, as mentioned in the quoted comment above, is obviously a done deal. The 'acting' president, merely a figurehead of "Big Brother", has now been given dictatorial powers over private industry in this latest phase of the deconstruction and assimilation of America into the global system. This is no longer the stuff of any "hidden conspiracies"...Big Brother is in your face now. on 'figureheads', compare: Gadhafi, Obama, Regional World Government 2-3-09
see also: Fed Gobbles Up GMAC En Route To 666 12-26-08 Consolidation of all things financial into private hands, step by step, to establish totalitarian control over all industry and consumers for the coming conversion of this country into the regional global system...you are looking at it.
*Much more to come so do not be lulled to sleep by the endless distractions served up daily by the msm - from endless sporting events to endless reality tv to endless staged events - all designed to breed mindlessness and compliance in the populace. The world has forever changed, America has forever changed, and the 666 global system being installed will be one of enslavement for all men. Be informed because time is up.
And the ONLY answer? Isaiah 45:22...'Look unto me, and be ye saved, all the ends of the earth: for I am God, and there is none else.'
*related: U.S. May Oust CEOs at Banks Needing ‘Exceptional’ Aid "April 5 (Bloomberg) -- Treasury Secretary Timothy Geithner said he’s prepared to oust the senior management and boards of directors at banks that require “exceptional” assistance from the U.S. government. "
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2 Peter 3:9 'The Lord is not slack concerning his promise, as some men count slackness; but is longsuffering to us-ward, not willing that any should perish, but that all should come to repentance.10 But the day of the Lord will come as a thief in the night...'
*related: U.S. May Oust CEOs at Banks Needing ‘Exceptional’ Aid "April 5 (Bloomberg) -- Treasury Secretary Timothy Geithner said he’s prepared to oust the senior management and boards of directors at banks that require “exceptional” assistance from the U.S. government. "
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2 Peter 3:9 'The Lord is not slack concerning his promise, as some men count slackness; but is longsuffering to us-ward, not willing that any should perish, but that all should come to repentance.10 But the day of the Lord will come as a thief in the night...'
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