Sunday, December 7, 2008

WP: Auto Bailout Progress - whose Car Czar?

Conditions Negotiated for $15 Billion in Emergency Loans

The White House is pressing a plan to name a powerful trustee -- or "car czar," as some have dubbed it -- within the Commerce Department with broad powers to force the companies to restructure or submit to bankruptcy, according to a copy of the plan. But some Democrats want to give the companies the money upfront and let President-elect Barack Obama name a car czar or full oversight board later, after he takes office.

more at: http://www.washingtonpost.com/wp-dyn/content/story/2008/12/06/ST2008120602784.html

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