- The Washington Times - Tuesday, July 21, 2009

ANALYSIS/OPINION:

According to William Ehart’s story “White House rips into auto dealer relief efforts” (July 16), the White House said that reversing dealer closings would set a dangerous precedent. You mean unlike the dangerous precedent set through the basic bypass of contract and bankruptcy law by the government on behalf of Chrysler and GM?

Based on that apparently safe precedent, it is OK for the government to swoop in, toss out contracts, leave credit holders with nothing even though they are supposed to be first in line, and give the government and unions ownership of the company (even though unions have no legal claim to a company’s assets beyond what they may hold as creditors and stockholders). Audacity of hope? This is more like the audacity of government fiat. How is this any different than a country like Venezuela nationalizing private assets?

As with most things in politics, everything eventually gets messy. Now the White House is upset that Capitol Hill would get involved in the politics of these car companies. The nerve! Welcome to the world of the government-operated enterprise.

I will continue to watch the events unfold with an eye toward entertainment. Taking them seriously is too painful.

MORRIS ZWICK

Germantown


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