By the way, Obama, personally, bought a 4,000 pound Chrysler 300 land yacht when he got rich—his family's safety is a high priority to him—but who's checking?
Seriously, why does anybody think that even after GM spent years of government-mandated retooling to make small cars that it would even then be competitive with Toyota and Honda at making small, well-engineered cars? It's not like Toyota and Honda are going to be getting worse over the intervening years. I don't understand how that would work without slipping dumb pills to Toyota's and Honda's engineers. The only policy that would make sense would be a high tarriff on the car parts that are imported from Japan (transmissions?).
The fundamental problem of the incoming Obama Administration is that their thinking is based on the very 2007 assumption that the fundamental problem of scarcity was solved so now all we have to do is redistribute wealth and reorganize society in a more SWPL fashion. Instead, it turns out the Bush Boom was a Bush Bubble and we actually have much bigger problems than the conventional wisdom of 2007 assumed.