Latest news on the Detroit automakers and the proposed "resolution authority" for the Treasury. Let's get right to it... Starting with the whole automaker bailout/bankruptcy quagmire theme - Deal Journal says, "Mr. Obama, don't let Detroit be your Vietnam" : "Congratulations. It took a couple of months in office, but you finally got something right. GM and Chrysler are bankrupt, after all. Not that it took any particular genius to see it. But it did take some gumption for you to come out and say it. Now prepare yourself for your next feat, the reinvention of Detroit. And here are some words of advice: Do not let Detroit destroy your Presidency. It will, if you let it." Meanwhile, Bloomberg reports President Obama has concluded that bankruptcy is the best option for GM and Chrysler . Here's an intro from that piece: "President Barack Obama has determined that a prepackaged bankruptcy is the best way for General Motors Corp. to restructur
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