Credit cards are bad, evil, a pain in the arse, etc.
But they will never do this to you.
Michael Arrington does an excellent job, as he always does, of being honest and open about the stuff that other people are only honest about in private. Kudos to him for that post.
I'm a huge fan of Guy Kawasaki, and I wonder if he will be able to talk about this mess in his blog. More likely, as Arrington points out, he not want to foul the waters. I'm sure his lawyers are telling him to keep quiet, and there's a reason that lawyers get paid what they do, so he'll probably listen to them and keep quiet.
Clearly not all VCs are the same, but one way to avoid getting fired from your own company is to never use a VC in the first place. Any ethical VC will tell you the same thing.