Monday, March 5, 2012

Analysis: Lawmakers may grab wheel of auto firms

President Barack Obama calls his administration a reluctant shareholder in the nation's troubled banks, insurance companies and car makers, promising "to get out quickly" once market conditions allow. But there are 535 other important Washington stakeholders: members of Congress.

Many lawmakers have their own, more activist view about the government's ownership role, seeming at times like a Congress of CEOs.

They have made it clear they want to be active partners in rescue oversight regardless of Obama's vow to mostly let managers manage. Some are even seeking to weigh in on specific GM and Chrysler plant-closing decisions and appealing for more …

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