KSL reported on Thursday that Bob Bennett and other GOP senators will introduce a bill in Congress to provide oversight over the governmental control on GM.
On Deseret News, Bennett says that every person who filed a 2008 tax return should get a share of stock in GM.
Nice try, but I do not think that either comment goes nearly far enough.
When GM emerges from bankruptcy, the government should be required to sell the stock. Same for AIG, Amtrack and every other government owned business that the federal government owns a piece of. In fact, I think that there should be a constitutional amendment to that fact.
The private Business Amendment:
Article 1:
To guarantee free enterprise in the United States, neither the United States government, nor the government of any state or territory withing it's borders shall hold more than a 10 percent majority in any private business enterprise, partnership or corporation without the approval of two-thirds of both houses of Congress except in time of war or to spare the overall welfare of the nation from great calamity. Under either of these exceptions, the treasury will sell the government stake in such business enterprises within six months after the war or crisis has ended.
Article 2:
Neither the President nor a member of the President's cabinet nor member of Congress nor a member of the Supreme court nor Federal judge nor General Officer nor Flag officer in any United States military service shall serve on the voting board of director of any private corporation or other private business enterprise that does business with congress until at least two years after such service has terminated.
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