But in its haste it has vilified creditors and ridden roughshod over their legitimate claims over the carmakers' assets.

ECONOMIST: Barack Obama and the carmakers

Meanwhile, London's successful bid for the 2012 Olympics -- despite a rumbling row over costs that shows no sign of abating before the torch is lit and complaints that the project has ridden roughshod over the wishes of local residents and businesses -- will ultimately mean the creation of Europe's largest new urban park in 150 years.

CNN: London leads climate change fight