WASHINGTON -- President Barack Obama's extraordinary auto industry intervention is assertive and coldly pragmatic, with a dose of caution and a sentimental nod to the automobile's place in the American psyche, according to The Associated Press.

Obama's curt rejection of General Motors' and Chrysler's restructuring plans and his abrupt move to muscle out GM's CEO set the stage for a major realignment of the U.S. auto industry. He bluntly raised the prospect of a "prepackaged bankruptcy" that would reorganize the companies quickly under court protection.

But Obama did not upend Detroit in one single swoop. He gave each company a second chance at a federal bailout - 60 days for GM and 30 for Chrysler - though it was evident that from now on little would remain the same.

"We've reached the end of that road," Obama declared Monday.