What on earth makes anyone think that a government appointee would be any better at ensuring the viability of the auto industry than a carefully selected and knowledgeable executive whose first duty to his or her board, stockholders, employees and customers is to ensure the viability of the business? In fact, it seems pretty obvious that anybody with a proven—or even with a high likelihood of having—ability to do so would already be running an auto company. Not that the executives we've seen have necessarily done a good job (and to the extent they haven't, others have stepped in to fill the gap: Honda, Subaru, Toyota, Volvo, etc.). I'm just asking we wouldn't expect government to do worse than the capitalists.
Furthermore, let's call this what it is: nationalization of the auto industry. To nationalize,
according to the American Heritage Dictionary of the English Language
means, "To convert from private to governmental ownership and control." In what sense is this not what we're considering?
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