VOICED: GM loses its CEO as Obama ups pressure on automakers

The White House expressed dissatisfaction with the auto industry's lack of a viable recovery plan despite receiving federal aid. President Obama demanded accountability, leading to Rick Wagoner's resignation as GM's CEO. The administration gave GM and Chrysler deadlines to restructure, with Chrysler needing to finalize a deal with Fiat. Obama assured the auto industry's survival but emphasized accountability, warning of bankruptcy if conditions weren't met. GM and Chrysler had already received $17 billion and sought $20 billion more, with new compliance rules in place.

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