I kinda feel bad for Wagoner. I wonder if he — like me — thought all that “you’ll get more money if you meet target X” stuff attached to the previous bailouts were just for voter consumption, and not to be taken seriously.
But apparently Obama was for reals, no fooling, and Wagoner has now been shown the door in the dignified coat-covering-the-handcuffs manner reserved for the wine and cheese crowd.
More about Wagoner’s ride into the sunset can be found at Mish’s site. I think the knowledge that Wagoner was ousted and Obama’s administration was behind it is all that really matters. Mish goes into a bit more detail about his replacement, as well as the popularity (or lack of) of the chronically bailed out domestic auto industry.
Bad week for Rick Wagoner. This just adds insult (getting a dignified shitcanning years too late to matter) to injury (mighty Duke getting blown out by Villanova last week).
The rest of the execs at GM, Chrysler, and the companies themselves have made it to the Elite Eight but things don’t look promising for them either, as they have had their “funding denied” and “plans rejected”. I had “financial industry” winning it all over “taxpayers” on my bracket, so I’m still looking pretty good.
… and the cow goes moo
