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babylonsister Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 08:54 AM
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Auto Bailout Condition: Government 'Car Czar'?
Detroit Bailout Is Set to Bring on More U.S. Oversight

By DAVID M. HERSZENHORN and JACKIE CALMES
Published: December 7, 2008


WASHINGTON Congressional Democrats were drafting legislation Sunday for tight government control of the crippled American auto industry, including the possible creation of an oversight board made up of five cabinet secretaries and the head of the Environmental Protection Agency and led by an independent chairman or car czar.

While the form of oversight was still to be negotiated by Congressional Democrats and the White House, the talks made clear the extent to which the auto companies would have to submit to substantial government supervision in order to receive a taxpayer-financed bailout.

Whatever oversight entity is created, it would direct the drastic reorganization plans that the auto companies have said they were willing to undertake in exchange for billions of dollars in short-term government loans to keep them in business, a senior Congressional aide said. A main factor complicating the deliberations was the imminent transition between the Bush and Obama administrations.

The discussions of how strong a hand the government should take with the auto industry came as Congressional and White House negotiators sought to put the final touches on emergency bridge loans of about $15 billion to keep General Motors, Chrysler and Ford afloat.

more...

http://www.nytimes.com/2008/12/08/washington/08autos.ht...
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lutefisk Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 09:25 AM
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1. I nominate Al Gore for 'Car Czar'
Give him a one year term and all the authority he needs to turn the US car industry into a lean, green, profit machine.
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Phred42 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 09:39 AM
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2. Isn't that the Secretary of Transportation's job?
:shrug:
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babylonsister Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 09:44 AM
Response to Reply #2
3. Maybe the powers-that-be want "constant" oversight, something a
Trans sec. wouldn't be able to provide.
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Phred42 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 10:57 AM
Response to Reply #3
4. I see the point - but rather than start a new department and staff
I think I'd put the position under the Sec of Transportation
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