President Barack Obama says that the best plan for recovery for General Motors might be a quick bankruptcy, according to a report in Bloomberg. The report comes the same day that GM issued another turnaround plan. GM says it wants $10.3 billion dollars in loans to develop fuel efficient cars. The federal government has already loaned GM $13.4 billion. It's been a wild week in Detroit. On Sunday night, news leaked that the federal government told GM that it would have to get rid of CEO Rick Wagoner. On Monday, Wagoner (a dead ringer for local TV anchormen everywhere) resigned. President Obama also rejected GM's turnaround plan and told Chrysler that it had to link up with Fiat within 30 days or else. Bloomberg quotes experts that a surgical bankruptcy may not be easy: “Surgical bankruptcy is a made-up term to give people comfort,� said James Shein, a Northwestern University Kellogg School of Management professor and a turnaround expert. “Unless the court makes some really gutsy moves, we’ve got the odds of it bracketed somewhere between slim and none. Conceptually it’s a good idea, but practically it’s going to be tough.� If anything, all of this news is making one of America's most moribund industries fun again. And the Chicago Tribune chimes in. If you bought $1,000 of GM stock in 2000, it would be worth $40 today, it points out. Glad I put my money in Pets.com