Three Points. We'll take them one at a time.

1. General Motors is unwilling or unable to make the sacrifices and changes necessary to re-establish its viability.

2. General Motors really is too big to just fail.

3. The failure of General Motors provides President-Elect Obama the perfect opportunity to begin the transition to a green collar economy.

GM wants $18 billion. But they are still essentially in denial. Here is the new Restructuring Plan...