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Originally Posted by Willravel
Taking into the public ownership is not the same thing as purchasing a majority of shares. Nationalization would be the government seizing a company (or companies) in their entirety and taking control of them. What the Treasury did was purchase stocks while GM was going through Chapter 11. This is colloquially known as partial nationalization, but in truth it's quite different.
this isn't true. Frederick Henderson resigned due to pressure from the board. According to his own words: "There was no direction or input from the government," he said. "It was completely by the board and of the board." |
I wasn't referring to Frederick Henderson. I was referring to Rick Wagoner who was thrown out by Obama when Obama nationalized GM.
The White House admitted to booting Rick out.
GM CEO resigns at Obama's behest - Mike Allen and Josh Gerstein - POLITICO.com
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The White House confirmed Wagoner was leaving at the government's behest after The Associated Press reported his immediate departure, without giving a reason
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Originally Posted by Willravel
Barack Obama is not a socialist and anyone that says otherwise is flat out wrong. It's not a legitimate complaint.
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I don't know what you call it when a government takes over a company but that alone sounds like socialism to me based on the links I posted previously.
What is a legitimate complaint? That Obama is a tax and spend liberal, based on his latest plan to give a $100 billion tax break and then raise taxes to pay for it?