GM

The one thing I've come to learn about President Obama is that if he personally doesn't like something, he'll do whatever he must to make it go away. Cases in point: GM and Chrysler. Under the guise of keeping them both out of bankruptcy (Remember him saying, "GM is to big to go bankrupt"?) he walked them right up the steps to the courtroom.

Chalk one up for all those who opposed throwing barrels of cash at Chrysler and GM to stave off bankruptcy, they were right on the money last fall when they said the best thing to do is just let the companies quietly go through restructuring. “Why put off the inevitable?” they asked.

President Obama announced on thursday (4/30) that he has single handedly saved millions of American jobs by pressuring Chrysler to enter bankruptcy so that the decks could be swept clean for a merger with FIAT of Italy.

Stop worrying about the warranty on your GM or Chrysler automobile. President Obama has announced that your warranty will be backed by the US Government. Now, getting service will be as easy as a trip to your local DMV office Introducing the Department of Motor Vehicles Automotive Repair Center!

I've attempted to engage several friends and acquaintances today, seeking to gauge their interest/disinterest with the whole GM/Chrysler/Gov't fiasco. While I am extremely angered by what is obvious (at least to me) to be an unconstitutional move by the Obama administration to take over GM, most of the people I have spoken to don't seem to give a pinto's exploding patootie.

(update) In the wake of last evening's report that General Motors Corp. Chairman and CEO Rick Wagoner will step down immediately at "the request of the White House," Wall Street took a big step down as well. The Dow Jones Industrial Average dropped 254.16 points, or 3.3%, to 7522.02, showing declines everywhere. GM shares shed 25%. Strategist Bill King, of M. Ramsey King Securities in Burr Ridge, Ill., said today on online.wsj.com, that investors are skeptical that the government can engineer a turnaround for the car makers.