Government Takes Over Chrysler, More American Jobs At Risk

First GM, now Chrysler:

In a letter to employees released late last night, Chrysler CEO Bob Nardelli stated that, under the evolving terms of the company's deal with the government, "a board of directors for Chrysler will be appointed by the U.S. government and Fiat." This board, he explained, will appoint its chairman and "select a CEO" and other executive officers of the company.

In other words, all of Chrysler's decisionmakers will be government appointees. The government will, in effect, run Chrysler. This would be de facto nationalization of the smallest, and least significant, of the Big Three.

"The majority of the directors will be independent," Nardelli assures us, but that just means they won't be employees of Chrysler or Fiat. Independent from the federal government and politics? Not so much.

Stand by for a flood of 'green' cars that no one wants!

We've seen what happens to companies controlled by the government: people lose their jobs.  Whether Obama actually fires them or they quit on their own because the government shoulders them out, the jobs are still lost.  So, if there are any real reporters left in this country -- i.e. Jake Tapper, this means you -- would someone please ask the President how this takeover is a plan to 'create or save' 3.5 million American jobs, and how Fiat factors in here?  Oh wait...I see my error.  Obama promised to 'create or save' 3.5 million jobs...but he didn't promise they would be American jobs.  Recall:

In a major victory for President Barack Obama, Democrats muscled a huge, $787 billion stimulus bill through Congress late Friday night in hopes of combating the worst economic crisis since the Great Depression. Republican opposition was nearly unanimous.

After lobbying energetically for the bill, Obama is expected to sign it within a few days, less than a month after taking office.

Supporters said the legislation would save or create 3.5 million jobs. House Majority Leader Steny Hoyer, D-Md., conceded there was no guarantee, but he said that "millions and millions and millions of people will be helped, as they have lost their jobs and can't put food on the table of their families."

No mention whatsoever of those jobs being for Americans, is there?  I guess this also explains his willingness to enact sweeping a new amnesty despite American citizens being out of work in the highest numbers in decades.

But there's another problem, too.  Obama just unveiled a new plan to build trains, calling it "a smart transportation system equal to the needs of the 21st century".  Does this mean he's giving up on the car industry altogether, or is he just going cut out all cars that aren't green like he wants in favor of his brand new taxpayer-funded train set?  If this vision includes 'green jobs', well, just ask Spain how that worked out - they lost 2.2 jobs for every 1 green job created.

Yet more proof that Barack Obama is not on the side of the American people.  But those of you who have lost your job, are worried about losing your job, or work for any company involved with bailouts probably already know that.

There's my two cents.