Today the Dow is giving up a big part of its gains in the past two weeks. The downturn can be blamed on the forced resignation of Rick Wagoner as chairman of General Motors. Is this because Wagoner has done such a good job at GM that investors are afraid to see him go? I dont think so.

Wagoner has made his share of mistakes. But, at least he came through the GM ranks. It takes a special arrogance for a bunch of government officials from Treasury and other departments to decide they know the automobile industry better than he does. And, that arrogance should be scary.

When the Small Business Development Center consultant is working with a business owner, that consultant should never presume to know more about the industry than the owner. More important, the consultant should never take from the owner the prerogative of making decisions. Treasury officials are becoming irresponsible consultants to a key American industry.