The Dismantling of GM: by a 31-Year-Old?
by Norman Adams on June 2, 2009 at 11:23 AM
Take a look at the NY Times' glowing profile of 31-year old law student who now finds himself: "dismantling General Motors and rewriting the rules of American capitalism." Does this scare anyone else as much as it scares me?
Wait, there's more! Just marvel at the Obama team's rapid-fire management of the auto-industry:
"Brian grasps both the economics and the politics about as quickly as I've seen anyone do this," said Lawrence H. Summers, the head of the National Economic Council who is not known for being patient whenever he believes an analysis is sub-par - or disagrees with his own. "And there he was in the Roosevelt Room, speaking up vigorously to make the point that the costs we were going to incur giving Fiat a chance were no greater than some of the hidden costs of liquidation."
Based on what exactly? What sort of research did wunderkind Brian do to reach this conclusion? According to the article:
He lives a dual life these days. He starts the day at a desk wedged just outside of Mr. Summers's office, where he can hear what young members of the economic team have come to know as 'the Summers bellow.' From there, he can make it quickly to the press office to help devise explanations for why taxpayers are spending more than $50 billion on what polls show is a very unpopular bailout of the auto industry...
Yes, this is exactly what we want the guys running GM doing, determining how to "sell" the bailout to the American public. I thought they were supposed to be figuring out how to sell cars!
Read the entire article and be amazed by the hubris, on the part of Obama and on the part of the New York Times for this puff piece.