GM spells out its nationalization today in a press release:

“As a result of its ownership of GM common stock, the U.S. Treasury will be able to elect all of our directors and to control the vote on substantially all matters brought for a stockholder vote. In addition, through its stockholder voting rights and election of directors, and its role as a significant lender to us, the U.S. Treasury will be able to exercise significant influence and control over our business if it elects to do so.”

Anthony Pratt, an analyst at PwC Automotive Institute in Detroit, told Detroit News reporter Dave Shepardson that the government hasn’t shied from throwing its weight around, noting that the Obama administration has already forced out GM CEO Rick Wagoner. “(The feds) have considerable clout,” he said. “They will have considerably more authority, and I don’t think they will be afraid to exercise that authority.”

Coming soon: the Chevy Pelosi.