Geithner at it again....

I read this earlier today and wow is all I could muster.

http://www.foxnews.com/politics/first100days/2009/04/05/geithner-banks-federal-help-government-decides-executive-line/

Critics of the Obama administration's move last weekend to force out the chairman of General Motors Corp., Rick Wagoner, as a condition for possible additional federal loans say that strong government intervention contrasts with measures placed on the financial industry in return for billions in infusions.

Geithner denied there was a double standard and put banks on notice that they may need to change leadership teams in exchange for accepting more money in the future.

"If, in the future, banks need exceptional assistance in order to get through this, then we'll make sure that assistance comes with conditions, not just to protect the taxpayer but to make sure this is the kind of restructuring necessary for them to emerge stronger," he told "Face the Nation" on CBS. "And where that requires a change of management of the board, we'll do that."

I'm sorry, but when did the federal government start dictating CEO's and Boards to private companies? I'm not an expert on this, but isn't this how the United Kingdom started when they privatized industry? One of the worst events for their economy in the last 75 years.

It took the Falkland War and an unbelievable leader in the form of Margaret Thatcher to fix that situation. How far is Geithner going to try to take this??

We can not just keep throwing money at a lost cause, but taking over the private institution is not the AMERICAN answer. Of course, that brings us to the question "Should we be doing any bailouts at all?". I do not believe we should. Instead of throwing all the money at the company, put it to use in helping the people that the bankrupt company will lay off and help them find new jobs. Use the money for grants or loans to entrepreneurs or businesses willing to hire at least 50 people per $250,000. Let's get creative, let's help each other out. THAT is the AMERICAN way!

Betsy