In return for any direct government aid, the board and the management should go. Shareholders should lose their paltry remaining equity. And a government-appointed receiver — someone hard-nosed and nonpolitical — should have broad power to revamp GM with a viable business plan and return it to a private operation as soon as possible.

This plan is a very, very good assessment.

Detroit Auto Makers Need More Than a Bailout - WSJ.com

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