GM boss told to step down by White House

Obama and other administration officials have said they would demand deeper restructuring from General Motors Corp. and Chrysler LLC before they would get any more government loans.

Both GM and Chrysler are living on a total of $17.4 billion in federal aid.

Source: MNBC.com

While one might question the While House making demands like this I’m glad that they are. The automotive industry can’t be expected to live off of the people’s money and still retain the same people who have been responsible for its current situation.

[picture courtesy of Critique Auto / hat tip to Brian Sullivan via FriendFeed]