CONGRESS AND THE AUTO DEALERS: “This is the problem with the government owning new GM–it’s 99.99% certain that the government will not let GM make economically rational decisions that negatively impact politically powerful constituencies. Once that dam breaks, moreover, it will be harder and harder to prevent future political interference.”

UPDATE: Speaking of politics, reader Ron Shrewsbury writes: “What I’ve been wondering about is ‘who decides where GM advertises and how much money they spend on it.’ If Network X decides to criticize Obama are they going to get the ‘Senator Kyl treatment’ from GM?” Would this guy play politics?