We dig a good political tell-all every once in a while (how else will we get our political fix while waiting for House of Cards' third season?). Today, we get just that from former Treasury Secretary Timothy Geithner's new book, "Stress Test," which details, among other parts of the 2009 financial catastrophe, the structured bankruptcy that allowed Chrysler and General Motors to emerge as competitive players in the auto industry.
The czars – all of them – are dead in the House of Representatives. Even though every "czar" position in government had already been vacated, the House passed a spending bill that officially eliminated the role and forbids the White House from naming more. In some cases, automotive and banking bailouts and executive pay especially, the czar himself was as polarizing as the job he had to do, and the enduring, transformative effects of their work can explain why politicians might targe
Let's try this again. After having his invitation to speak at the Detroit Economic Club rescinded last month, Steven Rattner, the former auto advisor to the Obama Administration, will get another chance to speak to Detroit. The Automotive Press Association is now hosting a lunch where Rattner will speak with members of the media on November 15, just three days before General Motors launches its IPO.
Soon after President-elect Obama and still-President Bush sat down on Monday, reports began to surface that the Obama camp was considering the appointment of a "Car Czar." The position would provide the new administration with analysis and advice on the auto industry and the financial (and product?) perils faced by Detroit Big 3(ish).