That's how deeply involved the Obama administration is in the business of the auto makers. Even though he just said this.
Obama is now micromanaging not only the banks but the automakers in this way. Often, of course, he allows his management of both to create a conflict of interest for himself. In fact, the whole entire Obama bailout operation is a series of conflicts of interest.
No one knows the effects on the economy of all these measures however it is clear that all of these measures have allowed the President Obama to amass power even he wouldn't have had without them. Apparently, being president wasn't enough power for President Obama so he decided he would also decide which financing company stays and then load it up with cash and tell them who to do loans for.
Does anyone really believe that this is anything but a recipe for disaster? He has taken over major parts of our economy in a naked power grab. Think about what President Obama is really trying to do. Consciously or not, what he is really seeking is more power. When a leader's ultimate goal is to amass power that will only lead to disaster.
Recently, Jim Geraghty wrote about how the Alinsky principle that Obama grew up in was all about this very usurption of power.
“It’s true I might have trouble getting to sleep because it takes time to tuck those big, angelic, moral wings under the covers.” He assured his students that no one would remember their flip-flops, scoffing, “The judgment of history leans heavily on the outcome of success or failure; it spells the difference between the traitor and the patriotic hero. There can be no such thing as a successful traitor, for if one succeeds he becomes a founding father.” If you win, no one really cares how you did it.
This is the presidency we now have. It is one who's primary goal is to cede more power to itself.