OBAMA'S WORLD

APPLYING THE GOLDEN RULE

He who’s got the gold makes the rules. GM CEO [Rick] Wagoner resigns at Obama’s behest.

Who’s next? If I were a business owner, I’d be worried.

[More]

James Lileks: “Maybe I’m old-school, but ‘President fires CEO’ looks as wrong as ‘Pope fires Missile.’”

Mickey Kaus: “After visibly defenestrating GM CEO RIck Wagoner, ... won’t Obama now ‘own’ the GM problem? If the company shuts down in the near future, ... [i]t will be Obama’s failure, no?"

Via Instapundit.

SMUG ALERT

The Los Angeles Times explains why it is a failing newspaper:

Journalistic trend-spotters say the recession is whetting the public's appetite for happier stories from their daily news outlets.

Those of us who are left in this business ... would like to oblige, but that isn't really what the Fourth Estate gets paid to do. We're supposed to document what's new, of course, including successes as well as failures. But we're also expected to question the powerful and hold them to account. When we don't -- when we aren't tough enough or brave enough to find the error in popular policies -- we end up with misbegotten wars, ruinous asset bubbles and other avoidable disasters.

So journalists feel compelled to be skeptical, and to focus on potential harms more than the likely benefits. It's far better for us to be proved too critical than to be seen as cheerleaders for policies or politicians that go bad.

With Washington pumping trillions of dollars into the economy and the financial sector, now's the time for disbelieving, penetrating journalism.

So journalists are “expected to question the powerful and hold them to account.” And pamper and excuse the weak?

Perhaps you should just, er, report the news?

via Opinion Journal.