Without a rapid adoption skepticism threatened to settle

Final negotiations between the White House and Congress on the granting of a balloon of oxygen of 15 billion to GM and Chrysler. While Ford confirmed does nothing expected immediately if its two major competitors were to be rescued, the focus is now on the appointment of a future "car czar", sort of Government supervisor, whose role could accrue to the former boss of the Federal Reserve, Paul Volcker, eighty-one years, recently appointed by Barack Obama at the head of a Committee for the economic recovery. But all of the emergency plan, which must allow GM and Chrysler to Cape Town from the end of the year, remains suspended from the green light to a majority of sixty senators out of 100.

"I'd that the supervisor be appointed before 1 dollar of aid." "Someone like Paul Volcker, who enjoys bipartisan support and the confidence of the public and the private sector, could be the man for the job," said the President of the House of representatives, Nancy Pelosi, on the eve of the vote which could take place today yesterday.

New plans in the long term

But the Bush administration, which still keeps orders for a few weeks, is more favourable to the appointment of a representative of the Department of Commerce. The name of Kenneth Feinberg, the lawyer responsible for piloting the compensation of the victims of September 11, is also cited. In addition to the appointment of the supervisor responsible for monitoring disposals of assets of firms in Detroit, their investments and any other commitment of an amount greater than $ 25 million, the last version of the plan provides for the issuance of warrants for the benefit of the Government, to the tune of at least 20 of the amount of loans granted to beneficiaries. A measure that may so term lead to the entry of the Federal State with a capital of manufacturers. Finally, the "big three" will have to submit to the Government of new restructuring plans long-term here March 31. While you already wondered about the possible successor to Richard Wagoner at the head of GM, the appointment of a super-contrôleur with expanded powers might be stumbling block.

"I remain concerned by the idea to inject federal funds in the"big three"without a clear vision on their proper use and their restitution", emphasized yesterday the Republican Senator Judd Gregg, a member of the Budget Committee. While thought the principle of almost earned bipartisan emergency aid, some Republican senators do not hide their doubts about the weaknesses of the plan. However, in view of the State of the forces in the Congress, the new legislature is starting only on 6 January, the Democratic majority in the Senate (50 against 49) has yet to rally the support of a dozen Republicans to push through its emergency plan with a majority of 60 votes. Without a rapid adoption, skepticism threatened to settle.

According to a study by Bank of America, the granting of a $ 10 billion emergency aid to GM would only "back the deadline" of the bankruptcy of the group, whose funding needs are vastly superior.