90 at 9: Obama to GM: 'no you can't'

Bernard Hickey details the key overnight news in 90 seconds at 9 o'clock, including news Barack Obama has rejected another request for bailout funds from GM and instead told GM's CEO Rick Wagoner to resign. GM may go bankrupt unless it can reform inside a month, causing the Dow to drop more than 300 points. Meanwhile, Ireland's sovereign credit rating was downgraded to AA+ from AAA overnight and America's Federal Accounting Standards Board has softened "˜mark to market' rules after lobbying by banks.