The Obama administration needs to act now to divest itself of its ownership position in GM. The shares need to be sold in a responsible fashion and the proceeds turned over to the nation’s taxpayers.
We should not be back on a road like the one that brought us Freddie Mac and the housing crisis. It is a road with endless hazards. It is not the American way of making cars.
The dream of the Motor City is and always has been one of ideas, innovation, enterprise, and opportunity. It started with Henry Ford and continued with visionaries like William Durant, Walter Chrysler, and the Dodge Brothers. These giants never envisioned a role for government in their business, but relied on the hard work and commitment of private individuals.
- The President could respond to Romney’s call for divestiture by pointing out that GM shares have been tanking of late, and that selling off at this point would result in even greater losses to the taxpayers;
- Willard is probably the only person ever associated with the auto industry who referred to Billy Durant as “William.”
And you’ll note that Romney’s choice of “visionaries” includes all three Detroit automakers, lest he appear to be playing favorites.