Posted by: McQ on Tuesday, December 09, 2008 As Dale mentioned yesterday, there couldn't be a worse idea than a federal "car czar". And all you need to know to validate that point is to understand Nancy Pelosi likes the idea. House Speaker Nancy Pelosi said she supports the concept of a federal overseer of any rescue plan, saying she lacked confidence the heads of the car companies could solve the problem if "left to their own devices."I've been saying the same thing about Congress for years. So what would a "car czar" do? Well, just about whatever he or she wants, one assumes, as long as it conforms to the Democrat agenda for the car industry. The proposal gives the car czar say-so over any major business decisions by the automakers while they're taking advantage of federal aid. The companies would have to open their books to the government, including informing the overseer of any transaction of $25 million or more.Obviously one area to which a "car czar" be very attuned is to the welfare of the unions. More importantly though, a "car czar" will most likely be implementing a government agenda, not a market agenda. He or she will have the obligation to do what Congress and the Obama administration want done rather than consumers. So we'll most likely get those not ready for prime-time "alternate" fuel cars which meet the new high CAFE standards at some point. In the meantime, most of the public, fed up with Detroit offering cars they don't really want, will flock to Toyota, Nissan and Honda. And the result? Congress and the administration will again prove that central planning driven by a political agenda will fail every time when a substitute choice or alternative is offered in a market. |
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