The humiliation of Rick Wagoner

I don't profess to know what kind of a job Rick Wagoner did as GM CEO, as compared to what someone else could have done. He had presided as CEO for nearly 9 years, during which time, according to the Wall Street Journal numbers, GM's stock price fell from $70 to around $3. Yeah, that's bad. And that is only one sign of the devastation this company has encountered.

But at one point does the state of affairs reach such a hopeless point that government must dictate which CEOs go or stay? My answer is "Never." This is what was so gut-wrenching about the whole saga: Wagoner was ordered by an American President to step down from the helm of a legendary company...or else. When have we seen this sad day in American history? Surely, this is yet another tipping point in a series of way too many in the last 60 days.

Even the reliably constant Obama policy advocate, liberal Democrat Gov. Jennifer Granholm of Michigan, publicly disagreed with this particular decision, referring to Wagoner as a "sacrificial lamb." And the Washington Post's Eugene Robinson has added his voice to that chorus, as well.

But now, the President heads overseas to universal European hurrahs. And so quickly, the bulk of the country will once again be distracted.