Don't help ... please: Latest wrinkle in bailout saga -- government wants oversight
As if it couldn't get any worse, now members of Congress are calling for changes in the personnel at the automobile manufacturers they are considering bailing out.
There haven't been any specifics yet, but some are suggesting there would be an overseer of sorts -- and that some chief executives should be sent on their way.
Now, if the idea of a $34 million auto bailout scared you, this should terrify you.
The idea is the government would actually have a say in some of the workings of a private business.
Sends shivers down your spine, doesn't it? We all know what happens when the government takes over anything -- inefficiency and debt.
The best thing that the Congress can do to help the future of the auto industry is to regulate the uses of the bailout money and then let the companies themselves find their ways. The marketplace will decide who stays and who goes.
We don't need any public officials -- who are notoriously bad about managing their own affairs -- assisting with the resurgence of American automobile manufacturers. They cannot be trusted to get that job done any more than can be trusted to figure out the mortgage mess.
America's free enterprise system has worked well for decade after decade -- and will continue to do so.
The last thing it needs is a few misguided, power-sniffing politicians to get the idea that they have the expertise to direct its future.
That is a distraction we cannot afford.
Published in Editorials on December 8, 2008 10:35 AM