“President Obama is now CEO and chief of General Motors. Looks he’s waving . . .People are worried because the principle here is that government is lengthening its arm and getting into the business of commerce.”  (FOX News)

Hi, I’m Charlotte Bellis and you’re watching Newsy.com. That was video from FOX News.

Many in the U.S. are asking whether the government is treating the banking and auto industries differently.

Congressional Quarterly brings us Michigan Republican Representative Thaddeus McCotter:

“When will the Wall Street CEO’s receiving TARP funds summon the honor to resign? Will this White House ever bother to raise the issue? I doubt it.” (Congressional Quarterly)

CNN talks to analysts who discussed the government’s need to take financial action with the auto industry.

“... It’s really AIG fallout. The public would be furious if we were giving ever more money to a company and rewarding the CEO who was at the helm when the company basically went under and required all this money...there is really not an alternative. How many more home foreclosures will you have if you have a million people out of work?” (CNN)

CNBC talks with Democrat Barney Frank, who defends the government’s approach:

“...They came for help. It’s important to give them help, but it is important to give it to them in the right way.” (CNBC)

Political blog TMP looks into the politics of what they call a double standard between the auto and banking industries.

“Dumping Wagoner lets Obama deflect attention away from Wall Street, where his Treasury Department is still moving through quicksand, and turn it on Detroit. He can portray himself as being tough on the corporate executives who are ruining America, without having to draw blood from the bankers.” (Talking Points Memo)

Do you think there really is a “double standard”? Should U.S. President Obama have asked Rick Wagoner to resign?