President Barack Hussein Obama is redefining a new role for government when it comes to business and it is not a pretty picture.
With the firing of General Motors chief Wagoner, the President has used his power to strip the power of the board rooms and shareholders and he has assumed "supreme power".
This act by President Obama signals a sweeping assault against capitalism and the introduction of socialism and ideas that smell of nationalization that are an insult to the way we do business in this country.
So, did he have a choice? The President made it clear to us with his "LET`S BE CLEAR..." rhetoric. He said he had to do it. It was in the best interests of the U.S. economy and in the best interests of General Motors. He had no alternative?
However, he did have an alternative. He could have pressured GM to reorganize the corporate board. The new board could have then fired the GM CEO, maintaining the rights of private enterprise to conduct their own affairs. Even that would have been too much. The shareholders could have taken action. In the final analysis, General Motors could have failed and failed fair and square.
Bankruptcy and complete and utter failure is good for business. It sorts the bad apples of capitalism from the good ones and keeps the whole barrel from rotting. Capitalism has a way of reviving itself on its own. Businesses come and go. The ones that fail strengthen the positions of the ones who remain and the economy booms again.
Failure of business is an important element in a healthy U.S. economy. Government intervention and encroachment on the rights of business to succeed (or fail) is not.
Barack Obama has no right to conduct the affairs of American business. He is charged with upholding the Constitution of the United States. His new role in the affairs of corporate America is nothing short of extortion as defined by law. He did it with the banks and the bonus packages and he did it with General Motors.
Barack Obama is President of the United States. But he has never run a business. He is a community organizer, not an entrepreneur.
And we have allowed it to happen.
When Josef Stalin sent an emissary to report to him on which system was better: Communism or Capitalism, his emissary returned with the bad news. Capitalism was the better system because it allowed for failure. Stalin`s emissary was subsequently executed for delivering the hard truth.
Government has not been able to run its own affairs. They have mismanaged our money and they have contributed to the economic crisis with which we are now faced. How can they be trusted with governing American business. Once government begins to assume authority over the affairs of private enterprise, American business is no longer American. It is something else entirely.
Will Griffith, Chairman
The Griffith Corporation
INTERNATIONAL HUMAN RIGHTS TRIBUNAL