Obama Drops Car Czar And Moves Towards A Panel To Steer Industry

President Obama has dropped the idea of appointing a single, powerful “car czar” to oversee the revamping of General Motors and Chrysler and will instead keep the politically delicate task in the hands of his most senior economic advisers, a top administration official said Sunday night.

Mr. Obama is designating the Treasury secretary, Timothy F. Geithner, and the chairman of the National Economic Council, Lawrence H. Summers, to oversee a presidential panel on the auto industry. Mr. Geithner will also supervise the $17.4 billion in loan agreements already in place with G.M. and Chrysler, said the official, who insisted on anonymity.

The official also said that Ron Bloom, a restructuring expert who has advised the labor unions in the troubled steel and airline industries, would be named a senior adviser to Treasury on the auto crisis.

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downtoearth - 2/16/2009 10:31:36 AM

-4 Boost

Steering industry = socialism

Leaving industry alone = libertarianism

fatandsassy - 2/16/2009 10:33:05 AM

-2 Boost

I thought that the Car Czar was already in place since the government has already given the companies money already.

BigShow50 - 2/16/2009 11:51:02 AM

+1 Boost

Either way there will be major problems from both ends of the spectrum...it's only a matter of time to actaully start hearing about it.

Cadman5 - 2/16/2009 6:28:36 PM

+1 Boost

Hard to beleive.. every week his approval rating has plummeted.. almost every move so far has been geared to government control.. its almost surreal. Downtoearth you have a point, I noticed a trend here, where people de-boost you alot because you refuse to conform to the safety of the masses.

vwrules - 2/16/2009 9:05:55 PM

+1 Boost

You are rite now that you have spoke your mind against the pope of hope the IRS will prob audit you LOL.

vwrules - 2/16/2009 9:09:06 PM

-1 Boost

Well it sure wont get fixed buy a braindead politico.

XYZZ - 2/17/2009 1:50:10 AM

+1 Boost

braindead!???

obama has more brains in his little toe than Shrub had in his whole body! who was in charge all the time the country was heading into the rapids, about to go over the falls?

as captain of our 'ship of state,' Dubya makes joseph hazelwood (of exxon valdez for you minibrains with no memory) seem like a stone sober Horatio Nelson.