***General Motors. Page one Wall Street Journal: "The new General Mortors Co. is poised to exit Chapter 11 as soon as Friday morning...The chances of a sustained turnaround hinge on a revamped board of directors the government has installed, in particular the new chairman Edward E. Whitacre Jr. The former AT&T executive was hand-picked by government's auto task force. He was charged with keeping a tight watch over GM management and its performance..." [Emphasis added.]
***Citigroup. Page one WSJ: "Citigroup Inc. shuffled its senior executives, including removing its finance chief, as it tries to appease U.S. regulators worried about its financial health and Chief Executive Officer Vikram Pandit's management team." [Emphasis added.]
***AIG. Page one WSJ: "AIG is asking the Obama administration's new compensation czar whether it should pay previously agreed-to retention bonuses." [Emphasis added.]
All the flowery talk about the beauty of capitalism, fair play, and competitiveness is pure b.s. All that the cryptocracy cares about is having absolute command of the economy so that their wealth generation is not threatened or interrupted. The cryptocracy's power grab in the wake of the economic crisis has meant a decisive turn in American political and economic life to central government planners now exercising control over all major decisions in key sectors of the economy: banking, auto, and insurance.
Any resemblance to the Soviet Union, the politburo, and its central-planned economy is purely accidental. [Sarcasm.]
And remember, it was not more than a couple of years ago that corporations could actually run their own businesses and make their own decisions.
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