Two out of the Big Three Could Be Bad

Today's big news (well, last night's too) here in Detroit is that the CEO of General Motors has joined the ranks of Michigan's unemployed. He was apparently given his walking papers by the government.

Meanwhile, the president spent his morning assuring us all that GM and Chrysler need to be saved (gee, you think?), giving them a month or two to get their act together (yeah, that'll do it) and that it'll be OK to buy a car from a bankrupt company because the government will back car warranties (insert laughter here).