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Obama will not name 'car czar' to oversee Detroit

Obama will not name 'car czar' to oversee Detroit

President Barack Obama will not name a so-called "car czar" to oversee aid to the embattled U.S. auto industry.
Instead, a senior administration official says, the Obama administration is establishing a presidential task force, led by Treasury Secretary Timothy Geithner and Lawrence Summers, the director of the National Economic Council, to direct the restructuring of General Motors Corp. and Chrysler LLC.
The official spoke on the condition of anonymity because no announcement has been made.
The task force will include members from several Cabinet agencies and work with the struggling companies as they try to show the government how they can restructure and repay billions in government loans.