There's Hope

... that the Washington Post might yet understand what's happening and call it to the attention of all. They've got an editorial out today questioning the wisdom of our takeover of GM. Here are some tidbits with a little commentary.

So how did we get from there to here? Here, according to media accounts this week, is an imminent transformation of General Motors into a government-owned company, infused with upward of $50 billion in federal money. The United States will accept stock in lieu of the cash the company owes, and Washington -- that is, you, the taxpayer -- will become the owner of 70 percent of the new GM.

You the taxpayer may be the owner, but you'll have no more say in it than the residents of Buenos Aires did when the Argentine government took over various businesses. All will be handled within the palace of el presidente.

When might the company stand on its own, to paraphrase Mr. Obama? When would the government exit the stage?

Never and never. If they wanted to spin the thing off, they'd get it making a profit as soon as possible. That would mean big cars and low wages for the union. That's the exact opposite of what they're doing.

But is a massive, unbounded federal commitment to a company that evidently still can attract no private capital really the only option? It doesn't take much imagination to forecast the political pressures that will buffet the government-as-auto-executive.

They're not concerned about these political pressures, they're counting on them. With much of the industrial midwest in thrall to the government after this takeover, they can hand out goodies to their supporters.

When the Bush administration first assessed its unpalatable options, Congress played an active and constructive role. Where are the legislators now?

They're licking their chops, baby. If you thought Michelle Obama's gig where she doubled her pay after her husband was elected to the Senate was sweet, just imagine the vast patronage that will be possible now. Family members eight levels removed will be able to get cushy jobs in auto parts manufacturers three layers removed from the government-controlled company. Just try tracking those down and accusing people of corruption.

Look, this is no accident. Obama is a fascist and this is what fascists do. They do it on purpose, too, to get just these kinds of results. Given a few more editorial sessions, the Washington Post might just stumble onto the truth.

Here's hoping.

We're all Peronists now.