Chris Dodd now giving advice on how to run International Corporations?

After teaming up with Rep. Barney Frank to make Fannie Mae and Freddie Mac fiscally sound and profitable, Senator Chris Dodd (S-CT) has turned his expertise to new horizons: the U.S. Auto industry. To those readers who don't have a sarcasm sensor installed, this last paragraph is dripping with it.

Over the weekend, the Senator took his expertise to the Sunday talk circuit, stating that a condition of the bailout (yes, bailout) for U.S. Automakers should be that General Motors Chairman and CEO Rick Wagoner should be fired.

This morning, according to The Paul W. Smith Show on WJR radio, Dodd has expanded this call to include the heads of Ford and Chrysler as well.

Ladies and Gentlemen of the American voting public: behold what you have elected. Not just this year, but for the last 40 at least. The halls of Congress are now filled with this kind of foolishness, and we keep sending more of them up there. And frankly, it's on both sides of the aisle. How is it that we keep electing people who have no economic common sense at all? How is it that Chris Dodd didn't understand that when you "encourage" mortgage lenders (with threats of prosecution by Janet Reno if they don't) to make loans to people who can't pay them back, that those institutions would go bankrupt? How can any of them not understand that giving away trillions of dollars (which is not backed by anything tangible like, oh, say GOLD), is going to destroy the economy, either through hyperinflation (ala' Germany in the 1920's), or through a currency crisis (via panic selling of dollars by other countries seeking to cut their losses)

What most folks don't understand is that recession, and even depression, are necessary economic evils. Just like surgery is often required to remove diseased organs in the body, and that surgery can have a difficult and painful recovery (but you're still alive!), so recession and depression cut out the diseased parts of an economy and allows healing to take place.

I don't like the idea of millions out of work and thousands of businesses failing any more than the next guy, but I like the idea of total economic collapse even less, and that is where people like Chris Dodd are leading us.