How Many Czars Does it Take to Screw in a Lightbulb?

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Yup, we've got yet another Czar appointment, although we lost one in the middle of the night (Van Jones). How many of these officially paid and appointed, but not Senate-approved, officials are we going to have (currently 28-34 depending on accounting)? It feels almost as if we're getting a whole fourth branch of government that is outside the normal checks and balances system.

'President Barack Obama is to name auto adviser Ron Bloom as the administration's manufacturing czar Monday, responsible for creating policies to boost the long-struggling industries. Bloom will keep his responsibilities overseeing Obama's auto task force, which has shrunk dramatically since General Motors Co. and Chrysler Group LLC emerged from bankruptcy.

"Ron has the knowledge and experience necessary to lead the way in creating the good-paying manufacturing jobs of the future," Obama said in a statement.

The White House said Bloom would work with the departments of treasury, energy, commerce and labor to put manufacturing policies into place and develop new programs.'

President Obama overstepping his leagal authority? - How can that be?!

Even the corrupt Sen. Dodd is expressing consternation and confusion about the legal authority under which the Administration is acting with respect to the auto industry. The TARP legislation was specifically designed to make funds available to financial institutions, but as with last year's auto bailout, the Obama Administration wants to use those funds for GM and possibly Chrysler. While the Administration will undoubtedly make the same arguments advanced by President Bush (that the Treasury Secretary has broad discretion and that the auto industry has its own lending institutions that qualify), both the Democratic and Republican Congressional leadership seems uneasy about the power grab. I wrote about this the other day, but it does seem that the President and his Administration are intent on imposing their will on the private sector. Rep. Frank is helping them along with his proposal to dictate compensation packages for all employees of any institution receiving federal assistance. I love the new NBC show, Kings, but this is taking the whole life imitating art thing too far.

But, too cheer us all up, Fox Nation has provided us with a new music video to accompany tea party coverage. It's a lot of fun, so link over (I'll upload when Blogger stop freaking out on me) and enjoy.

GM's CEO takes the fall - UPDATED UPDATES

GM's CEO, Richard Wagoner, has abruptly resigned at the request of the Obama Administration as a condition of new federal funding. While the recent moves by the Administration toward tighter control of private industry are of great concern, at least this resignation will force some restructuring of the company (along with Chrysler). Of perhaps greater concern, however, is the continued flood of tax dollars to prop up failing industries. The sad truth is that the American auto industry (particularly as centered in Detroit) started failing long before the current recession, and should have restructured themselves years ago. Ford is the closest thing Detroit has to a success story, and that is not saying much.

The newest requests from GM and Chrysler total $21.6 billion, and even before meeting the requirement to present a restructuring plan to Congress, the Obama Administration appears to have promised a new bailout (although a figure has not been named). There is no indication on how far Congress and the Administration are prepared to go with the bailouts, what the final total will be, what the vetting process is, or if there is any kind of a plan whatsoever in place to ensure that the companies will be successful in the end. It all seems a little like fiddling while Rome burns.

UPDATE 1:
President Obama stated today that a short bankruptcy/restructuring period may be necessary for GM and Chrysler, and is giving them a 30-day extension on the original deadline to present a recovery plan. Additional federal funding is the carrot in all of this. Chrysler is also expected to complete a merger with Fiat within that time-frame. The shotgun wedding is being negotiated, in part, by the Administration, with pot-sweetener of $8-$10-billion likely. GM shares dropped like a rock (22.9%) in response to the firing of Wagoner and today's announcement.

UPDATE 2:
One has to wonder if Wagoner is being punished for funneling more GM pac-money to the GOP instead of the DNC. If they had been more like Sores, would he have survived?