Wherever an innocent corporation chafes under the oppressive yoke of congressional oversight and consumer derision, there too shall we find Michigan Attorney General Mike Cox.
Today, the populist champion leapt to the defense of the downtrodden car companies everywhere on the opinion pages of the Washington Post!
“This model year, Detroit will make more than 137 vehicles that get 30 miles per gallon or more,” said the AG. We will assume for the moment that he actually means 137 vehicle models instead of his literal meaning and pass on the obvious joke. But is that such a good thing? GM, for example, is practically drowning under the weight of its 13 different brands, to say nothing of models. But to Cox, the myriad iterations of automobiles that no one wants is a source of great pride.
Mightn’t Attorney General Cox be laying the groundwork to become Governor Cox?
If he could be turned, he would be a powerful ally.
But I was going to the Tosche Station to pick up some power converters!
Cox said “Bush wisely agreed to release funds as a loan – not a bailout.” Good news, everyone. It’s not a bailout after all. False alarm.
Sorry Mr. Cox, low-interest loans are just a less transparent way to shower money to executives who made abysmal long-term choices. The proof is in the private lender pudding. What’s left of the banking industry will barely lend to viable companies – they won’t touch the behemoths of Detroit with a ten foot pole.
Right there in his official bio, it says Cox is working “to protect those in [Michigan] who cannot protect themselves.” Thanks for helping us realize just how awesome the cars Detroit makes really are! Let’s hope this corporate guardian can continue to fight the good fight!
Posted by wonktheplank 