RSS RSS Twitter Twitter
Leftlane - news, reviews, and info for the auto-industry
 
 

Pelosi favors Former Fed Chairman Volcker as “car czar”

12/09/2008, 9:09 AM

By Andrew Ganz

Earlier this morning, House Speaker Nancy Pelosi told NBC’s Today Show that she would favor former Federal Reserve Chairman Paul Volcker to oversee the restructuring of the domestic auto industry. Volcker was recently appointed by President-elect Barack Obama as his top economic adviser.

“I would want the [car] czar to be appointed before one dollar was spent – so theoretically this week,” Pelosi said on the Today Show.

“I think somebody like Paul Volcker, who has bipartisan confidence and the public and private confidence,” she continued.

The appointment would rely on Congress passing the industry bailout bill being considered this week.

Volcker, known as “Tall Paul” because of his 6′7 height, is currently the chair-designate of Obama’s Economic Recovery Advisory Board. He served as Chairman of the Federal Reserve under presidents Jimmy Carter and Ronald Reagan. Later, he became active in the private financial sector before researching corruption in the Iraqi Oil for Food program for the United Nations.

    Print This Post

New car price quote

Zero obligation price quote from a trusted local dealer.
 
 

12/09, 9:30 AM

posted by:

Z06ified

where is my comment??

12/09, 9:45 AM

posted by:

mayer_ray_nagin

Pelosi should favor seeing an eye doctor about those protruding oculars of hers.

12/09, 9:52 AM

posted by:

Z06ified

LLN’s software SUCKS. I’ve about had it with this site. Not only does it function horribly, but half of my posts don’t even show up.

12/09, 10:05 AM

posted by:

The Stig

One could only hope the appointment of Volcker (or any other) comes equipped with credentials and understanding the industry in general.

12/09, 10:50 AM

posted by:

CulleyCTSV

Of course, what else would you expect from Washington?? They have demonstrated no ability to manage money, deal with crisis or trim management…so why would they be any different now? A Car Czar who knows nothing and probably cares nothing about cars. WTF???

12/09, 11:13 AM

posted by:

RaineMan

How can anyone from the banking community have public confidence? We need someone who knows cars and car manufacturing in charge.

12/09, 12:15 PM

posted by:

Lariat Luxury Locomotive Liner No.3

This is what happens when our government gets involved because we have to bailout (aka loan) funds to corporations. We get people who are not facile in the management necessary to either oversee the existing and certainly incapable of foreseeing the future of the automotive industry. I could yell at the top of my lungs, but only JohnnyCanuck would here me!

12/09, 12:21 PM

posted by:

Lariat Luxury Locomotive Liner No.3

here = hear (In a conference and sneaking this in.)

12/09, 12:31 PM

posted by:

loudpedal

Do you know of a more bloated, less efficient, less effective group than the Federal Government? They want to put this guy in charge to oversee the domestic auto industry? The Big 3 were building big, gas guzzlers because that’s what people wanted to buy. I’d like to know how many Senators or Congressmen are buzzing around Washington in Priuses or Fits. Come on! Give them a loan. Fine. Just don’t tie their hands by forcing them to go through somebody who knows nothing outside of the financial industry. Where’s the accountability from the financial industry?

12/09, 12:35 PM

posted by:

TiNDeR

GM is now GV. General Volcker.

Is America becoming communist?

Is capitalism not working?

So the Government is making all the decisions and making the big bucks.

Here we are, penalizing the Big 3 CEO’s for making the big bucks, yet we do not look at what these government officials are making?
After all, where not our government, these official public servants paid with our tax dollars, suppose to protect us?

Oh, that’s right silly me, we are being protected by them, that’s why they are in control, not us, the people.

12/09, 1:10 PM

posted by:

howsmydriving

I predict a special Volcker Edition Cadillac, complete with ashtrays and humidor.

12/09, 1:30 PM

posted by:

Borat

From a fairly democratic state we are falling into zcar driven society. Intelligence zcar was lucking any intelligence and had to be replaced, now the car zcar: can Walker walk, much less drive? He is as ancient as Rome and no one saw him alive in the past 10 years.

12/09, 2:59 PM

posted by:

yarddog82abn

Aaaaa………

12/09, 4:30 PM

posted by:

bigjimid

Great, just what the American auto industry needs. Some old dude who lives in a purely financial mindset and doesn’t know s*** about cars except how to turn on his heated seats.

Borat, it’s ‘czar’ bro. I would have let it go, but you misspelled it three times in a row. Unless you are talking about a Nissan of course, then disregard this comment.

12/09, 5:56 PM

posted by:

scootness

The “car czar” will probably end up being like the “Bobs” from Office Space and just cut, cut, cut because he doesn’t know anything! This guy can’t have the slightest clue of what it takes to produce cars! It is easy for them to say that appointing a “car czar” will keep the “big 3″ in check and oversee the money spending but how does he know what is right and what is wrong to spend the money on??? With no auto experience, he can’t possily know!

This is about as funny as hearing Obama talking about national security when he had never seen a current intelligence report! Its easy to say that you can do “it” better when you don’t know what “it” is! If anybody has noticed, Obama hasn’t talked as much about national security now that he is seeing the reports! Funny how that works.

Bob–”So I see that you have been missing alot of work lately..”
Peter–”I wouldn’t say I’ve been missing it, Bob”

12/09, 7:38 PM

posted by:

Borat

Bigjimid, it was my displeasure with the whole schtooping idea, if you know what i mean, drives me fuken nuts!

12/09, 7:42 PM

posted by:

Borat

Also, the guy was “active” during Carter days. He is 81, almost 82 years old. Surely, he will drive any industry into its grave, as he did with US economy during Carter days: inflation was 18%, along with recession.

12/10, 1:23 PM

posted by:

hondAccord

I think that the car czar should be someone who knows about cars and deals with them on a daily basis. Maybe a prominent automotive journalist..

 
 
You need to log in with your user name and password before you can leave comments.

    

Forgot your Password?

Don't have a user name yet? Simply fill in the form below and click the link provided in the
confirmation email. You must supply a valid email address to complete the registration process.

  
 
 
 
 
  • Login
  • About
  • Contact
Please note that you need to log in with your user name and password before you can leave comments.
  

login
cancel
Forgot your Password?
Don't have a user name yet? Click here to register now.

Simply fill in the form below and click the link provided in the confirmation email. You must supply a valid email address to complete the registration process.

  
submit
cancel
Leftlane is the leading source for automotive industry and vehicle news, new car research, future vehicle information, and reviews. Read by car shoppers, driving enthusiasts, autoworkers, executives, and investors, the website is updated throughout the day with the very latest auto news - as it happens.

Leftlane also provides consumers with accurate and media-rich information on every car currently on the market. In-market shoppers can review specs, read overviews, view high-resolution images, watch videos, and estimate pricing. No other automotive publication brings together the same degree of timeliness, thoroughness and accuracy as Leftlane.
 
submit
cancel