Business as usual can only last for so long. It was annoying to see the same (mis)management running the company through the first bailout despite being the failed leader who drove them into the ground but at least this round required change. What is most surprising is that Wall Street has somehow managed to stay the course after the initial changes. Heck, Goldman Sachs is preparing to return their TARP money and pretend as though the AIG gambles have nothing to do with them. And then there's AIG who has implemented some change but their problems never end. CNN:
General Motors CEO Rick Wagoner announced his resignation early Monday -- the latest change for the troubled automaker.Obama knows how to grade failures and he knows how to fire them. This provides some hope for changes at Treasury.
White House and GM sources had told CNN Sunday that Wagoner would resign as part of the federal government's bailout strategy for the troubled automaker.
"On Friday I was in Washington for a meeting with Administration officials. In the course of that meeting, they requested that I 'step aside' as CEO of GM, and so I have," Wagoner said in a statement posted to the GM Web site.
