Pot, Meet Kettle

According to Reuters, Senate Banking Committee Chairman, Christopher Dodd, "agreed with suggestions by fellow lawmakers that GM should probably consider replacing CEO Rick Wagoner and restructure with a new team.

"I think he has to move on," Dodd said.

Interestingly, Dodd got a very sweet deal from Countrywide Financial which is at the very center of the banking crisis that arguably what has caused a lot of GM's current woes.

From Portfolio.com:

Two U.S. senators, two former Cabinet members, and a former ambassador to the United Nations received loans from Countrywide Financial through a little-known program that waived points, lender fees, and company borrowing rules for prominent people.

Senators Christopher Dodd, Democrat from Connecticut and chairman of the Banking Committee, and Kent Conrad, Democrat from North Dakota, chairman of the Budget Committee and a member of the Finance Committee, refinanced properties through Countrywide’s “V.I.P.” program in 2003 and 2004, according to company documents and emails and a former employee familiar with the loans.