President Obama opts not to appoint a "Car Czar"...

[snowbear]

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Obama to set up auto task force instead of 'czar'
1 hour ago

WASHINGTON (AFP) — The administration of US President Barack Obama will create an inter-agency task force on restructuring the troubled auto industry instead of naming a "car czar" as was planned by the Bush administration, The Wall Street Journal reported late Sunday.

Citing unnamed senior administration officials, the newspaper said Treasury Secretary Timothy Geithner and White House economic adviser Lawrence Summers will jointly oversee the task force

Geithner will also oversee the 17.4 billion dollars in federal bailout agreements between the automakers and the US government, The Journal said.

General Motors and Chrysler are required to submit extensive restructuring plans by February 17 to a presidential designee, commonly called the "czar."

The "czar" had been expected to be in place by the middle of February to analyze the restructuring plans.

http://www.google.com/hostednews/afp/article/ALeqM5jvccFpcNV47VtmHbGYFaI5PRR-Eg





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[Kolesar]

1. In the LBN last night at ten

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3740743

[snowbear]

2. kewl..

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[AtomicKitten]

3. I'd rather Geithner and Summers work on the car industry than the banking industry. n/t