Obama Forces Out GM President and Refuses Bailout Funds -- But Company Should Eventually Be Bailed Out

Published Mar 30 2009, 07:37 AM by Steven Stark

The big news this morning is the administration's refusal to bail out GM, without its making major concessions -- and the simultaneous forced resignation of GM's head. But several months from now, the automaker seems likely to get its bailout for the reason Mickey Kaus elaborates: Now that the feds, so to speak, own the company, Obama can't risk the political fallout from a shutdown. Had he wanted GM to fade away, he would have kept existing management there -- and let them take the rap.

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