The CEO of GM (Government Motors) was fired by the president of the United States. For those old fuddy duddies out there who may think this a danger to free market capitalism, American liberty, and common sense (not to mention those of us who love nice looking automobiles), I say relax and get with the program.As this report clearly shows, if the government is in for a penny, it is in for a billion - or several billion as this case may be:The administration's auto team announced the departure of Mr. Wagoner on Sunday. In a summary of its findings, the task force added that it doesn't believe Chrysler is viable as a stand-alone company, and suggested that the best chance for success for both GM and Chrysler "may well require utilizing the bankruptcy code in a quick and surgical way."The move also indicates that the Treasury Department intends to wade more deeply than most observers expected into the affairs of the country's largest and oldest car company. After...(Read Full Post)