Here is a link to the lead editorial in today's New York Times:

The government is about to own a controlling stake in one of the largest car companies in the world, if, as is virtually certain, General Motors files for bankruptcy protection on Monday. If all goes according to plan, the American and Canadian governments will own nearly 75 percent of the company that emerges from the process -- and could end up holding their stake for several years.

President Obama owes American taxpayers and voters a candid and detailed explanation of the government's goals and the levers it intends to use to achieve them. He should make clear that the overarching objectives are to create a profitable company that makes cars that people want to buy, and that are more fuel-efficient.