Central to the measure is the establishment of a presidential designee--or "car czar, " as the position has come to be known--who would manage the bailout process.
In addition, if the companies don't come up with a negotiated plan, the carczar can submit his own, which could include reorganization under Chapter 11 bankruptcy.
Depending on how you count them, Obama has appointed a record number of czars somewhere around 38 on a wide variety of matters from his carczar and green jobs czar to the more standard drug and Middle East policy czars.