3/30 Roundup: Cars not Wagons, World-Class Jaw-Boner, Eric Cantor Ruined by Britney Spears

WagonerLeader: Cars not Wagons

- The Obama Administration uncovered its plan to keep GM and Chrysler afloat, but the billions in bailout cash will not come without hefty concessions from the two auto manufacturers. From GM, the government has demanded that CEO Rick Wagoner step down, and given the company 60 days to restructure. Chrysler has 30 days to reach an agreement to partner with Fiat; if they're successful, Chrysler will be up for another $6 billion loan.

- If the companies fail to restructure to the Administration's satisfaction, bankruptcy is an entirely possible outcome. The NY Times calls this a level of government involvement in business not seen since the Great Depression. 


- Homeland Security Secretary Janet Napolitano has delayed proposed immigration raids, asking that the raids be given closer scrutiny before being carried out.  This could signal a shift in policy, away from workplace raids as immigration enforcement. 

- President Obama will be back on the Hill today, continuing to push for the policies in his budget blueprint, before he is whisked off to Europe tomorrow. 

- Politico takes a look at Austan Goolsbee, "world-class jaw- boner," and resident populist in the White House. 


- The next stage in the foreclosure crisis is a strange one.  After underwater homeowners walk away from their property, the banks also walk away from the property, because the cost of the ordeal outweighs the value of the house. The former homeowners, then, are still responsible for keeping up the property, even if it will eventually be taken back from them. 

- Paul Krugman writes that one of the biggest costs of the financial crisis is the blow it has dealt to America's reputation as economic leader of the world.

- Tim Geithner showed us his hand, finally: Treasury still has $134 billion in TARP money. 


- With so many areas of intractable disagreement between the U.S. and Europe, at this week's G-20 summit, the Obama Administration will focus on fortifying the I.M.F., one topic where everyone agrees, at least in principle.  

- The WaPo reports that momentum is growing to change U.S. policy toward Cuba, particularly in the Democratic Party. We at NDN applaud these efforts, which mirror the policies we have advocated for years. 

New From NDN

- Simon published a few short essays to our blog over the weekend, responding to his trip to Chile for the Progressive Governance Conference.  Yesterday, he analyzed, America's changed role in the world, and looked at ways President Obama can restore our nation's role as a leader.   

One More Thing

- Sarah Palin had to pick a Democrat to fill a state Senate seat, so she picked someone who became a Democrat three weeks ago.  Oh, good job.

- Eric Cantor has been taken down by none other than Britney Spears.  Eric, you're not the first man to be laid low by Britney.

- Last, the world-class jaw-boner himself, channeling populist rage: