HolyCoast: Former Obama Czar: Obama Was Out to Get the Car Companies
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Friday, September 03, 2010

Former Obama Czar: Obama Was Out to Get the Car Companies

This administration has been in office long enough that former members are now starting to come out with tell-all books:
Former Obama administration car czar Steven Rattner is coming out with a new book that depicts him swashbuckling through the financial crisis and also shows Obama as "out to get" the car companies and the administration making political decisions about how to deal with bankrupt automakers GM and Chrysler....

Key points from the article and excerpts:

-When Obama was told of the plan to pay GM CEO Rick Wagoner a $7.1 million severance package after Obama ordered that he be sacked, Rattner writes: "Suddenly I felt that I was indeed in the presence of a community organizer..."

-Rattner describes presidential political adviser David Axelrod coming to car meetings armed with poll data to support the takeover and Chief of Staff Rahm Emanuel identify Congressmen in whose districts large Chrysler facilities were located.

-"[Obama's economic team] veered dangerously close to having the government take control of the two most troubled banks, Bank of America and Citigroup."

-"If his team had linked arms with the outgoing administration, as President Bush's advisers had proposed, billions of dollars could well have been saved."

-Rattner says Chief of Staff Rahm Emanual dictated Treasury Secretary Tim Geithner's schedule, public appearances and staff selections.

-He says Obama economic advisers Larry Summers and Austan Goolsbee and FDIC Chair Sheila Bair as enemies who slowed down decision making with infighting

-Rattner said Obama was frustrated with the auto companies from the start: "Why can't they make a Corolla?" he has Obama asking.
There was never any doubt in my mind that Obama was "out to get" the car companies, and then give what was left of them to the unions. Mission accomplished.

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