Hypocrisy: Senator Dodd (D – Countrywide) Wants General Motors CEO To Resign
Now, to be fair, I think the CEO of GM should resign too. In fact, I think that shareholders of all three of the “big three” automakers that are currently bellying up to the federal trough for a bailout should demand that the CEO’s resign. But for a long-time member of the US Senate who has presided over the mismanagement of the federal budget, for someone as specifically inept and corrupt as Senator Chris “Friend of Angelo” Dodd, to make this demand is just plain ludicrous.
An influential senator drafting a multibillion-dollar bailout for Detroit’s Big Three automakers said Sunday that the head of General Motors should step down, while President-elect Barack Obama accused car industry executives of a persistent “head-in-the sand approach” to long-festering problems.
Sen. Chris Dodd, D-Conn., chairman of the Banking Committee, said GM CEO Rick Wagoner “has to move on” as part of a government-run restructuring that should be a condition of financial life support for the auto industry.
“I think you have got to consider new leadership,” Dodd said on CBS’ “Face the Nation.” Criticized for staying on the sidelines until now, Obama for the first time voiced support for bailout legislation being drafted in Congress.
Again, I’m not defending these executives. I think they should be fired for being inept. But for a member of the government to criticize a private sector executive for mismanaging his/her business?
Pure comedy gold.
