Emperor Obama Tells GM CEO To Commit Hari-kiri

When one thinks of a distressed company receiving strict marching orders for things like restructuring, contracts, etc., one thinks of bankruptcy court. Apparently, Emperor Obama has taken that responsibility upon himself: GM CEO resigns at Obama’s behest:

The Obama administration asked Rick Wagoner, the chairman and CEO of General Motors, to step down and he agreed, a White House official said.

On Monday, President Barack Obama is to unveil his plans for the auto industry, including a response to a request for additional funds by GM and Chrysler. The plan is based on recommendations from the Presidential Task Force on the Auto Industry, headed by the Treasury Department.

The White House confirmed Wagoner was leaving at the government’s behest after The Associated Press reported his immediate departure, without giving a reason.

General Motors issued a vague statement Sunday night that did not officially confirm Wagoner’s departure.

“We are anticipating an announcement soon from the Administration regarding the restructuring of the U.S. auto industry. We continue to work closely with members of the Task Force and it would not be appropriate for us to speculate on the content of any announcement,” the company said.

Folks, this gets scarier by the day.

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