GLENN: Okay, so I haven't figured this out. Let me go to, let me go to Pat and ask him. Pat, have you noticed that Toyota is testifying now in front of congress?
PAT: I have.
GLENN: Mmm hmmm.
PAT: Mmm hmmm.
GLENN: Isn't congress the owner with the American people of Toyota's two big competitors?
PAT: Yes. Yes, they are.
GLENN: So isn't this like the board of directors of General Motors calling Toyota to testify in front of them on television and demanding that they explain why their cars are so bad?
PAT: Oh, and they're angry, too. They're, they are outraged about this situation.
GLENN: Are they?
PAT: Yeah. Oh, yeah. As you could imagine let's say I mean, if ExxonMobil called Shell to testify before them, they are a little upset with their business practices.
GLENN: Have you heard anyone talk about this yet?
PAT: No. No, I haven't.
GLENN: How come?
PAT: I don't know.
GLENN: How is that completely missed?
PAT: Everybody's talking about just the, you know, the brakes and the acceleration and all of those things and nobody's ever seemed to even notice: Oh, and by the way, these are the owners of GM and Chrysler and they are taking another competitor.
GLENN: These are the people that are running it, these are the people that own it, these are the I mean, we have don't you see the moral hazard that we're in now? Our congress has no credibility when they call, for instance, any bank to testify. You are going to call let's say they call a collection of small local banks to testify. Who are you to tell me this? You're the competitor. You are CitiBank. You are trying to put us out of business. You are Bank of America. Who are you to call me, Toyota? I mean, this is the quite honestly this is the attitude I would take. I mean, you wouldn't win and my shares would fall and, you know, Toyota would be out of business, but that's why I'm not running Toyota! But that would be the attitude I would take. Who are you? The owners of General Motors and Chrysler? And you're telling me to explain myself in front of you? You are my competitor!
PAT: It would at least be worth bringing up, wouldn't it? I mean, if you didn't even say it with a nasty attitude, could you at least bring up the inappropriateness of the whole procedure?
GLENN: Yes, I think you could. I think you could.
STU: There's a story in The Wall Street Journal today, too, talking about how these cases of recalls are typically handled by the National Highway Traffic Safety Administration, but the Toyota case was led by Obama transportation secretary Ray LaHood. If it's going to be coming from the normal area and the journal goes into, too, about how a lot of people who have big union money are all the people calling for all this. That's not to say that Toyota didn't do something wrong and that they should you know, they obviously had some serious problems there but the way it's going down
GLENN: What is the problem? Because they seem to have first they had first they had gas. Then they had brakes.
GLENN: Then they had something else.
GLENN: That's odd that Toyota's having all of these problems.
PAT: All of a sudden.
STU: Yeah, I think it's an all of the above thing and I don't think that they are denying they are having the problems.
GLENN: No, no, I'm not saying they are denying at all and I'm not saying they are having the problems.
PAT: But this all goes to your point, Glenn, in the inappropriateness because the government got themselves into the situation. Their credibility is gone. And so to have these kind of moral authority, who are you?
GLENN: They have none. This is, you know, an impossible, impossible situation now.
Now, I just want to throw something out here. Apparently it's a chip problem. Have we verified this yet?
PAT: They don't know.
GLENN: That it's a brain problem in the car. We had a we have a watchdog who is at one of the bigger software chip manufacturers in the world and this guy's pretty I mean, he is an "Out there" thinker, but he's pretty reliable. This is a theory only. He said, you know, you can fry those chips. You can deprogram those chips, and it's an odd thing that those chips would have these problems if this indeed is the problem. There is now a theory that is going on that some competitor took and this is corporate sabotage.
PAT: So somebody's, like, shooting some sort of ray gun at these people?
GLENN: I don't know. Whoa. You have a ray gun?
PAT: I have a ray gun.
GLENN: Holy cow.
PAT: I disabled the brakes on 1400 cars.
GLENN: Turn your radio off if you're driving!
PAT: 812 now.
GLENN: The ray gun is getting you!
PAT: 3,282 cars.
GLENN: Stop, stop!
PAT: 4806 cars are now in trouble.
GLENN: What model? What model?
PAT: All models, all makes appeared models.
GLENN: All right. So
PAT: Just, it's in a certain city. I'm not going to even name which one.
GLENN: Holy cow.
PAT: That's 5,312 cars now.
GLENN: So here is the, here is the idea, that a competitor is this is corporate espionage or corporate sabotage. Somebody's going in and disabling these chips. I don't know if that is a legitimate theory at all.
PAT: Now, is this theory by competitor, is he talking about, you know, GM and Chrysler?
GLENN: I have no idea. No, no, I have no idea. He is not assigning a blame anywhere. He is not assigning. He is just saying that this can be done. If it is a brain problem with the car, it can be done. It could be a competitor that took Toyota out.
STU: I guess anything's possible. Doesn't seem particularly plausible.
GLENN: You know, I don't know if it's I mean, he wasn't suggesting this, that it was, you know, it was Van Jones at night with the... with the ray gun in the library! He's not, you know, he's not suggesting that, nor am I. But when you get into a competitive situation, you want to make sure that our government never, ever looks like they are using something to help themselves. And now congress is on the hook for GM. Nobody by highlighting Toyota's problems, they are helping American made cars. By highlighting Toyota's problems, nobody notices that the guy who helped Rahm Emanuel make $16 million in a separate deal, who didn't have any car experience at all and then later Rahm Emanuel pushes up the ladder and gets him to be the CEO of General Motors just got a $9 million bonus. For what? Is General Motors fixed? Are they I mean
STU: It's getting fixed quickly with this news.
GLENN: Oh, it's fixed.
STU: Isn't this a great lesson to
GLENN: Like my dog has been fixed.
STU: Isn't this a great lesson, too, for environmentalists, I mean actual real environmentalists? Environmentalists, the hero of government and environmentalism was Toyota. And the bottom line is when it comes down to government power and money, that's going to trump your cute little leaf on your dashboard. Like it doesn't if you might be really the person who's out there fighting for a greener planet but the government, when they when it comes down to their pocket books and their power, you are going to become a pariah to them. You are going to become the enemy whenever they can make you the enemy if it comes down to money and power.
GLENN: Remember, remember when we talked about 24 a couple of days ago and we said look what was happening on 24?
STU: Uh huh.
GLENN: And everybody was always like, "Oh, no, no, okay, sure, my ex boyfriend beat me up and I went to jail because of him. But if I just help him this one time, he'll leave me alone"? No. Congress is your ex boyfriend that used to beat you up. That's who congress is. They will never change their stripes. It is government, as George Washington says, is a necessary evil. These guys will always that's why there's restraints on power. They will always go bad. Just know that going in. That's why we restrain their power. That's why we keep them as small as we can. That's why we have checks and balances. Once you get rid of the checks and balances, these guys are going to run roughshod over everything.
STU: Yeah, you don't want to let anyone get power like that into the wrong hands just like you don't want to let a ray gun get into the wrong hands.
GLENN: Jeez, how many
PAT: 6,497 vehicles.