Posted by aogThursday, 04 February 2010 at 10:21 TrackBack Ping URL

Instapundit notes a key point about economic intervention by a government — that same government is also responsible for putatively objective and disinterested regulation of the economic activity.

Of course, it’s very convenient for GM, etc. that Toyota had a problem right about now. As reader Hugh Myers writes: “Has it occurred to anyone that as owner of GM the US Government’s rather enthusiastic pursuit of Toyota regarding supposed product defects involves the government in a conflict of interest?”

This is not a problem specific to the Obama Administration but is a fundamental flaw for any government intervention. Of course, this Administration has a way of making bad things worse with people like Secretary of Transportation Ray LaHood. Now, if the Administration wants to claim that this isn’t malicious but just a result of a Biden class idiot, I am quite prepared to believe them.

No wonder the current state of the American Street is fear.