"You don't need banks and bondholders to make cars," the administration official.

WizBang blog comments on the administration's view of capitalism:

It has become manifestly clear that this comment captures the opinion of an administration that possesses an Ahab like obsession with transforming American capitalism to a system of picking winners and losers. It also sigals that the Obama administration will continue to feed tax payer dollars into a broken, government protected and subsidized union ownership business model that no private sector lender would ever loan money to again.