Government run banks? Check.
Government run auto industry? Check.
Government run healthcare? Coming soon.

The president a month ago forced Rick Wagoner out as GM's CEO. The Treasury Department dictated what bondholders should get for the $27 billion they held in GM debt. Obama's team determined that GM needed to downsize so that it could break even if auto industry car sales remain at 10 million vehicles a year, instead of the 16 million auto sales threshold it needs today.

And on Treasury's instructions, GM will replace a majority of its board members in consultation with the Obama administration.
Obama isn't interested in getting the federal government into the auto industry- nope. It'll just have GM's CEO fired and replaced with one of their choosing. It'll write GM's bankruptcy deal, and it'll choose GM's new board. Totally different from being in the auto industry though.

So, does anyone see GM returning to profitability in the forseeable future or is it now just an expensive UAW welfare program?