Obama-Owned Industry Is Bad

The Wall Street Journal has a terrific opinion piece up titled "Why Government Can't Run a Business (Politicians need headlines. Executives need profits)" which makes strong, clear points about how government regularly fails at running any business.

I especially like the seven bullet points that clearly explain why Obama's attempt at socialism/nationalization will profoundly hurt America. The quote below is also a strong example of government hijinks that would get a private citizen tossed in the clink.

It is government's job to make and enforce the rules that allow a civilized society to flourish. But it has a dismal record of regulating itself. Imagine, for instance, if a corporation, seeking to make its bottom line look better, transferred employee contributions from the company pension fund to its own accounts, replaced the money with general obligation corporate bonds, and called the money it expropriated income. We all know what would happen: The company accountants would refuse to certify the books and management would likely -- and rightly -- end up in jail.