Remember way back when—it seems so long ago, but it’s only been about a month—the Obama administration showed GM’s CEO Rick Wagoner the door? Now it appears that certain CEOs of TARP-receiving banks are probably next on the chopping block.

As part of the soon-to-be-announced stress test results, they’ve been put on notice by the administration that, in the 30-day period that follows:

…firms will need to review their existing management and Board in order to assure that the leadership of the firm has sufficient expertise and ability to manage the risks presented by the current economic environment.

When I read that, the first thought that came to me was: would that it were possible for the electorate to apply the same standard to Obama.

That was also my second and third thought.

More details of this and other government requirements for the banks can be found here). After you read them, you might find yourself agreeing with this comment:

The government is saying:

This is out and out theft. The government knows full well that it is the only source of this large an amount of capital – who has hundreds of billions of dollars laying around? Nobody does. And the government bloody well knows it. The government doesn’t even have it. The Federal Reserve is merely going to print it out for the government.