Money Beat

Why can't Obama get as tough with the banks as he got with GM/Chrysler?

Obama needs to get tough with the banks after the Stress Tests are out.

Oh No....here comes that "Golden Parachute" crap again....bet if he leaves now he gets a carload of money...before it goes under

Finally, a first step but beware of the size of his Golden Parachute (Government paid) of which he should get ZERO!

Great news, this guy and his team are so far out of touch with the car buying public that they should have left long ago.

This is getting very scary. You Obama supporters need to wake up and realize what is going on. This is the road to fascism. Obama should not have the authority to dictate someones resignation. Blindly following Obama is unAmerican - always question authority!

What in the world does the government know about running an auto company? GM needs to drop all the divisions and only have one, which makes a cheap car, medium, expensive, sports and cross over. They don’t need to retool 30+ models every year, its nuts. Concentrate on making the best 5 cars they can. Tie the salary with profits for everyone instead of just giving management giant bonuses for nothing. No need for unions either, give profit sharing and watch it run well.

WOW! You are calling this Fascism? Do you even know what it means? Where was the outrage during the Bush years? Talk about Fascism! Bush inherited a $4.9T national debt and when he left office, it was at $10.5T. Where you just asleep during the last 8 years?

The union must also go, they are as guilty as the dumb executives in bringing down the company by their demand for very high salaries... Just go bankrupt so they can start fresh.

These automakers should be in bankruptcy court. What makes anyone think Clowns in Congress can reorganize the automakers any better than a bankruptcy court? Even if they knew what they were doing, which they don't, Congress is controlled by the Dems, and the Dems owe too much to the UAW to do anything but make it worse.

How can the Japanese auto makers have better and more profitable cars? BETTER MANAGEMENT and NO UNIONS!

Well doggies! If the President can get the same type of cooperation with the union, GM might just make some money!!!

It"s about time he starts firing these CEO'S. Banks should be next. I support President Obama he is looking after the country. No more free money.

Nice way for the "leader" to bail after he ruined the company, which started years ago. He will have no worries retiring with all the bonuses and inflated salary he has received over the years even while his company under performed. You think he's going to walk away with a $20,000 buy out plus a $20,000 voucher to buy a GM car? I think not.

what does Obama know about running a company? There is not one company doing $100M/yr that would even consider hiring him because he knows nothing. He is not qualified to run even a small business.

There is ZERO difference between Obama and Chavez .. they both want TOTAL control of everything! He's a friggin clown and you kool-aid drinkers are just too stupid to see what's going on!! What's next - he's going to attempt a takeover of all of the Dairy Queens? "You asked for it - you got it!" .. by the way, has your worthless non-productive lives changed one bit since he got elected? NO!!

I hope all you government loving people are enjoying yourselves. It is sad that this company should already be out of business and many smaller versions of car companies would have emerged. But big brother keeps throwing good money after bad to save socialism. All of you who support government control will eventually have government imposing many rules on your personal life; sad, weak minded people. By the way, the huge tax increase coming next month from .39 to 1.00 on a pack of cigarettes, this is a major tax increase on the poor.

Its about time these people get more and more of a shake up. Mis-managment, free spending, pile the debt in one drawer and forget about it??!! I dont think so. I could care less what his sad, sappy reason is going to be for leaving. Don't give us the usual I want to spend time with my family garbage! Just leave and don't expect a pity party! You should have left a long time ago with all your cronie buddies! Scumbags!!!

Dana - cmon now .. put the purple kool-aid down and THINK!! Do you honestly think this guy is stepping down at this point in time ON HIS OWN??? Oh boy - you people are just downright nuts! He is being forced to leave by YOUR PRESIDENT and will be replaced by someone of his choosing .. RIDICULOUS AND UN-AMERICAN!!

Wagoner should have stepped down a long time ago. What I can't figure out is why Nardelli is still around too. That guy did a horrible job with home depot, yet that dummy is still in charge of chrysler. Get rid of his @##% too.

Sounds like President Obama is getting ready to destroy the middle class, along with his tax cheat Geithner and short sighted Barnenke. No change, just more bad news for the American people.

If Obama would show up at one of his supporters homes and say "give me your SUV, turn your lights off, I'm taking the dog, and your too stupid to do anything about it" .. they'd lick his shoes and say "thank you"! Morons!

You know what is really scary? Wagnoer has more excutive experience in the last 6-months than Obama has had in his life. The goverenment only knows how to print money, not make a proffit. Im not saying Wagoner should not go, but what we are heading for is what scares me. I think the goverenment is in our business too much. Why not a investigation into the housing crisis that started this whole mess. The media wont do that, they put Obama in and for now they have to live with it. When a news network starts to report the truth the american people will wake up and fix this mess.

Ridiculous comparing Obama to Chavez. Recall that the automakers ASKED for government help. This is the price they are now paying. The only reason bankruptcy is being avoided is because of the ripple effect on the supply base.

About time...we better not hear about some inflated 'golden parachute' deal either.

Jeezus - now Obama wants to run GM and the rest of the car companies?? That's right, go march into GM, kick out the CEO, and appoint yourself to the same position. Utter madness. The only thing that's worse is all the liberals who actually support this.

So liberals, when is enough enough? Rather than scream at Bush and conservatives, why not see if you can define a point where even you would agree that Obama is overstepping his bounds - that is, unless you agree to government running all of what used to be private industry.