Obama "Violated Every Bankruptcy Principle Known to Man"

I've been meaning to blog this but I have been lax.  Here is my former boss (OK, my former boss's boss's boss's boss's boss's boss's boss's boss) Harvey Golub, about as influential a business executive as you can find, telling it like it is on how Obama saved General Motors - utter lawlessness.

Harvey Golub, the former chairman of American International Group Inc., said President Barack Obama “violated every bankruptcy principle known to man” in the rescue of General Motors Co. (GM) and Chrysler Group LLC.

That's about sums it up. Add in $50 billion of our tax dollars and there you have it.  Rampant disregard for the law and essentially unlimited money and what we have is an enfeebled and mediocre car company that is losing ground in the marketplace every day.  Yes, GM is alive, but it is not leading a life worth living.  By any rational measure the GM rescue was a failure and the law-breaking required to achieve it was more damaging to the broader economy than the benefits of "saving" the company.

Note:  The article says that Golub is a donor to the RNC. This is likely a recent development.  Golub, through his long career, was widely known as a Democrat, perhaps even a life-long registered Democrat, but I am not certain.