Markets Plummet On News That President Can Now Fire CEO’s

  •  March 31, 2009

Wow…

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On a related note, he’s a roughly 10 year look at the Dow that puts the current downturn into nasty, ugly perspective.
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Some important dates:
2000: Bush elected
2001: Post-9/11 recession
2003: Bush tax cuts take effect
2007: Democrat majority takes over Congress, promising big new spending and taxes
2009: Obama takes over White House, promising big new spending and taxes
Now, Bush was no paragon of limited government virtue, but it’s clear from the way the market has reacted who the better stewards of the economy were.

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  • http://tarheelred.wordpress.com/ pino

    The government owns 38% of GM, that gives them the right to make decisions.

    Umm, 1.00-0.38=0.62

    Wouldn’t the 62% get the right to make decisions?

  • Buzz

    The government owns 38% of GM, that gives them the right to make decisions. The CEO was is power for eight years, and made bad decisions, it was time for him to go.

  • jimmypop

    and almost everyone voted to give him this power….. seriously, hate him if you like, but just like the AIG bonuses, you should hate the people that WILLINGLY ALLOWED him to get this power MUCH more than The Man himself.

  • Mickey

    King Obama is over reaching. This is clear cut socialism.
    Now this dufus wannabe leader will have to find someone to manage GM and he still hasn’t filled his own cabinet.

  • Jackass Jimmy

    During the campaign I tried to explain to my Obama supporter friends that Bush wasn’t to blame for the downturn in the stock market in 07. They wouldn’t listen, it was all Bush’s fault, and thus McCain lost.

    Yes, but it was Bush that paved the way for all these bailouts by creating and signing the first bailout package. Just what we needed when the American sheeple were stirred up into a lather about electing a socialist President.

  • http://reaganiterepublicanresistance.blogspot.com/ Reaganite Republican

    I guess firing the head of General Motors must be a real coup for a power-mad narcissist like Obama-
    what a rush. And his Marxist-professor mentors would be so proud.

    Good luck finding a capable replacement willing to take-on such a herculean task with the whole country looking over his shoulder, while working 15 hrs/day for a buck-a-year… then having 90% of his bonus confiscated by congress.

  • Mark

    During the campaign I tried to explain to my Obama supporter friends that Bush wasn’t to blame for the downturn in the stock market in 07. They wouldn’t listen, it was all Bush’s fault, and thus McCain lost.

    Now look at where we are at!

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