Ghost of a flea

The media scoffed at the idea that Obama was a leftist more intent on wealth distribution than sound economic policy. How much harm could he do?, they seemed to think.

Well, here's the harm. Obama is so far to the left he needs to relearn South America banana-republics' unhappy lessons regarding nationalization.

Oh, it's fun to nationalize things at first. You get to seize money and assets from big, unpopular "speculators" and give them to your voters.

And then what? What do you do five years down the road, when you desperately need capital but no one wants to loan it to you, because they have the quite-reasonable suspicion you'll just end up taking their money again?

Non-leftists, including centrist liberals like Clinton, know this, of course. It's obvious -- except to starry-eyed True Believers in socialism, who just don't grasp the idea that socialism only works until you run out of other people's money.

The sources, who represent creditors to Chrysler, say they were taken aback by the hardball tactics that the Obama administration employed to cajole them into acquiescing to plans to restructure Chrysler. One person described the administration as the most shocking "end justifies the means" group they have ever encountered. Another characterized Obama as "the most dangerous smooth talker on the planet- and I knew Kissinger." Both were voters for Obama in the last election.