Sunday, December 07, 2008

Great idea!

Dodd: General Motors Executive Should Resign in Exchange for Bailout

Hmm. We had Senators and Congressmen like Chris Dodd and Barney Frank insisting that Fannie Mae and Freddie Mac lower their standards, and they insisted that regulation of Fannie Mae and Freddie Mac was at least adequate if not excessive. I'd like to see them resign too.

Or maybe we should get Senators and Congressmen to resign before they get tax increases?

There might well be a great case for getting rid of Waggoner. And if CEOs think they're going to get unconditional bailouts they're crazy. But the suggestion that anyone in the Capitol knows more about managing auto companies than the Big 3 CEOs is beyond insulting, and from Dodd in particular it takes chutzpah beyond comprehension.