13.4 BILLION wasted taxpayer dollars later...

... it looks like GM is still going to have to declare bankruptcy, but not before axing its scapegoat CEO over the weekend at the royal direction of the Messiah, who arrogantly didn't even bother to consult Congress before taking that questionably constitutional action.

Did Rick Wagoner run GM into the ground? We have no idea. We would submit, though, that it's the shareholder's job to decide whether to fire him, not the government's. But we guess President Obama's running the company now, however, so apparently he and only he is competent enough to decide who stays and who goes in Detroit.

Entering bankruptcy protection months ago would have allowed the company to legally reorganize its debt as well as force the UAW to renegotiate the burdensome contracts that are helping to kill the domestic auto industry, and as a plus the board would have kept their collective manhood instead of accepting the Faustian bargain of allowing the government to clumsily meddle in their private affairs in exchange for a failed infusion of taxpayer money, which then obligated them to meekly submit to the recent random staffing whims of President Obama and "Turbo-Tax Tim" Geithner, neither of whom have apparently ever held a job with a private for-profit company in their entire lives. How would they know what would be the best course of action for such a firm? They don't have a clue, of course, but they scarily seem to have some sort of dreamy Chavezian vision of how they wish for it to operate.

Good luck with that, sirs. This is the real world, not some university socialist intellectual exercise.