Your favorite bailout and ours looks to be on the eve of a vote. True, roadblocks (if you will forgive the term) remain, like the Democratic complaint that firms should stop suing states with individual emission laws (seems a bit brash to force this to us, but we are due process hawks, unless Spitzer is at issue). As is typical, some Democrats are already claiming an accord has been reached, contrary to the comments of Republican colleagues.
And then there is the idiocy provision of the decade:
In addition to providing loans, the proposal would force automakers to answer to a presidentially appointed trustee -- or "car czar" -- and make the government their biggest shareholder.
The overseer will have powers to shape a restructuring of the companies, withholding further loans if progress toward a turnaround stalled.
A key provision would permit the czar to recommend a bankruptcy restructuring if companies borrowing money fail to obtain the necessary concessions.
When is the last time a "Czar" did anything of note besides starve Russians or die in glorious revolution?
Bailout plan could soon face House vote [Reuters]