Who Will Be The Auto Czar? What will he look like? Will he have a cape, a sash and a scepter?
If the deal between congressional Democrats and the White House to give Detroit's automakers $14 billion in emergency loans becomes law, President Bush will appoint a car "czar" who will be responsible for overseeing how the money is spent.
HELP WANTED: Someone who knows how to spend $14 billion.
If a bill to provide $14 billion in emergency loans to the Big Three U.S. automakers is passed by Congress and signed by President Bush, a government "car czar" will given the task of handing out the taxpayers' cash.
The czar will also have the power to force any of the Detroit carmakers into bankruptcy in the spring if they haven't cut quick deals with labor unions, creditors and others to restructure their businesses and become viable.
But some lawmakers think a "czar" should have more power than that.
"The car czar that they put in this bill, first of all, doesn't have a lot power -- has a lot of ability to suggest things -- but doesn't have enough power to cause the restructuring," said Sen. John Ensign, R-Nevada, who opposes an auto bailout and would prefer to see the companies in Chapter 11 bankruptcy....More
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