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View Full Version : Auto bailout creates more buracacy


jason
12-07-2008, 02:45 PM
http://www.reuters.com/article/ousiv/idUSTRE4B50CL20081207?rpc=64

In addition to reorganizing and protecting taxpayer investment, possible conditions include creating a government "car czar" to oversee the bailout, new corporate leadership and additional concessions by the United Auto Workers union.

BirdGuano
12-07-2008, 02:47 PM
This shit is so far past tinfoil that it's no longer funny.

Bring on the tar and feathers.
:furious:

leistb
12-07-2008, 03:19 PM
The government couldn't even make a go at running a whorehouse and selling booze (Mustang Ranch; see here: http://www.foxnews.com/story/0,2933,292166,00.html) so now they're going to oversee the manufacture of automobiles?

If a new czar is appointed, how shall they be addressed? "General" Motors? Transportation Emperor? Automotive Autocrat?

leistb
12-08-2008, 04:04 PM
Sept. 11 Fund Lawyer Could Be 'Car Czar,' Officials Say

Kenneth Feinberg, who oversaw the Sept. 11 victims' compensation fund, is a top contender to be the "car czar" for a legislative auto bailout, sources say.


AP
Monday, December 08, 2008
WASHINGTON -- Congressional officials say the lawyer who oversaw the 9/11 victims' compensation fund has emerged as a candidate to be the "car czar" in charge of a bailout for Detroit's Big Three automakers.

Kenneth Feinberg, the special master of the federal Sept. 11 fund, is a contender to run a roughly $15 billion auto rescue and work with the Big Three to restructure their beleaguered companies.

The White House and congressional Democrats are near agreement on an auto bailout that would provide loans on Dec. 15. It would create a federal overseer who could revoke the funds early next year if the companies weren't doing enough to become viable.

The officials spoke on condition of anonymity because no selection has been made.

http://www.foxnews.com/politics/2008/12/08/sept-fund-lawyer-car-car-officials-say/