Car Czar?

Is that what we need? So many questions have been asked, so many requests and plans floated in those hearings today, it’s hard to keep track. Hard, also, to know whether the Big Three are likely to win over skeptical lawmakers.

But here’s one idea that seemed to be getting some traction — as described by our Zach Wolf:

At today’s auto hearing, which has made up for in substance what it lacks in fireworks, there has been a lot of talk of the 1979 Chrysler bailout and Sen. Chuck Schumer talked about following the ’79 model to have a government panel create a restructuring plan for the auto companies. Except that Schumer suggested that instead of a panel, perhaps this time it should be a single government trustee, perhaps the Treasury Secretary (he apparently is ignoring the ongoing oversight frustration with the TARP). All three auto CEOs seemed okay with the idea, as did the economist testifying and the UAW President and several Republicans were intrigued.

Schumer is now sending out press releases pushing his trustee idea. Why call it a trustee when "Car Czar" is so snappy?