White House, Dems Near Deal on Bailout

The White House and congressional Democrats are near a deal on the auto bailout, but there are concerns bubbling below the surface. The New York Times points out that the kind of federal oversight contained in the draft legislation “sounds perilously close to a word that no one in Mr. Obama’s camp wants to be caught uttering: nationalization.” According to the Politico, Republicans think that aid to the Big 3 must stop on March 31 unless the companies’ restructuring plans meet government’s standards. Finally, The Detroit Free Press steps up to defend embattled GM CEO Rick Wagoner. Sen. Chris Dodd called for Wagoner to step down over the weekend. The paper says that Wagoner has presided over a complete and fairly successful remaking of the company, if a “torturously slow” one.