WASHINGTON - Fresh from pushing Chrysler into bankruptcy, President Obama and his economic team are hoping that the hard line they took last week gives them leverage to force huge changes in General Motors, a far larger and more complex company.
Officials say that, difficult as Mr. Obama’s decision was on Wednesday night to take all the risks of a Chrysler bankruptcy, the politics of reshaping G.M. will be far harder. Already a shadow of the company that once dominated the American landscape, G.M. will be forced to eliminate tens of thousands of additional jobs and close factories and dealerships nationwide.
In 100 days, he's gone from merely president to Gordon Gekko on steroids! Not only is this well outside the purview of the president, the naked power grab is frightening in the extreme. He's now running not only the country, but the financial sector and two of the three remaining auto manufacturers in the United States.
At this rate he'll be a version of Ernst Stavro Blofeld living on a fortified island, ruling the entire world by the end of the year. I hope the Brits still have James Bond on the payroll.