Big 3 (Big 2½) Update

So, the White House does not like GM's or Chrysler's reorganization plans, and has given GM 60 days, and Chrysler 30 days to come up with a better plan.

What's more, they demanded, and got General Motors' CEO Rick Wagoner's resignation, and pretty much demanded some sort of alliance deal between Fiat and Chrysler.

The obvious question here is, "Why is the government insisting on Wagoner's resignation, and not Bank of America's Kenneth Lewis's resignation?

In terms of Chrysler-Fiat, it appears that they have come to an agreement on a "framework" for their deal.

One wonders if this deal involves a haircut for Cerberus, which it should.