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rosco 357

Venezuela Chavez says "Comrade" Obama more left-wing
Tue Jun 2, 2009 10:27pm EDT

CARACAS (Reuters) - Venezuela's President Hugo Chavez said on Tuesday that he and Cuban ally Fidel Castro risk being more conservative than U.S. President Barack Obama as Washington prepares to take control of General Motors Corp.

During one of Chavez's customary lectures on the "curse" of capitalism and the bonanzas of socialism, the Venezuelan leader made reference to GM's bankruptcy filing, which is expected to give the U.S. government a 60 percent stake in the 100-year-old former symbol of American might.

"Hey, Obama has just nationalized nothing more and nothing less than General Motors. Comrade Obama! Fidel, careful or we are going to end up to his right," Chavez joked on a live television broadcast.

During a decade in government, Chavez has nationalized most of Venezuela's key economic sectors, including multibillion dollar oil projects, often via joint ventures with the private sector that give the state a 60 percent controlling stake.

Obama has vowed to quickly sell off General Motors once the auto giant is back on its feet, but the government will initially control the company after a $30 billion injection of taxpayer funds.

Chavez, a vehement critic of the U.S. "empire," has toned down his rhetoric since Obama took office in January and the two men shook hands during a summit in Trinidad and Tobago in April.

(Reporting by Enrique Andres Pretel; Writing by Frank Jack Daniel, Editing by Jackie Frank)


As Popye would say "How embarraskin!":. But some have made the argument that the whole GM bankruptcy plan is designed to give the government and the union's control of GM. That is certainly the apparant outcome. If so, expect GM to be directed to produce a certain quota of certain types of cars. That kinda inteference and union featherbeading will make GM a losing public utility much like Rolls Royce became in England. After 40 years of losing money, RR was finally sold to BMW. I wonder how long Obamarama will last.

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