GM CEO Wagoner to Step Down at White House Request: The news comes as President Obama prepares to unveil additional restructuring efforts designed to save the domestic auto industry.

On one hand, there's a certain amount of schadenfreude at this, given that Wagoner made his own bed by accepting the government money in the first place. It's a little like borrowing money from the local loan shark. You should know that it won't turn out well.

On the other hand, we now have the President of the United States, not the shareholders, nor the board of directors, going around basically firing the CEO of a company.

I really think that the Socialist in Chief is planning on nationalizing the auto industry.