The Government Motors Debacle
I head a nonprofit group that encourages developing nations to adopt policies that will lead to prosperity — starting with transparency and the rule of law — and hold up America as a model. Yet in its high-handed dealings with Chrysler and G.M., the Obama administration reminds me of an irresponsible third-world regime, skirting the law and handing economic prizes to political cronies.
How long before the UAW dumps the stock? And, if it doesn't, how long before Ford seeks to decertify the union and replace it with one that doesn't own the company's competitors?