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The legislation that could save the American auto industry with emergency loans of $15 billion or so puts much of the authority for overseeing that loan program into the hands of an administrator known in the bill as the "the president's designee." From the draft legislation, here's what we know about the position:

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The more I look at this pending bill, the more I get worried for GM, and us as loyal GM buyers. I've been for the bailout for a while now, but honestly, the more that comes out about it, the more I'm thinking bankruptcy is the safer way to go for GM. I think this has been covered before, but it would take care of the UAW problems, which really is the big problem here. They would be able to bounce back and quickly, where as the effects of this bailout will effect them for years.....probably even over a decade. This amount of government involvement is just scary, and it should be. The government now has the abilitly to buy into GM, there's this car czar guy, and the removal of lawsuits against state emission regulations. I'm not the most politcal person, and I would never claim to be. This is just my opinion, and its stems from my concern for GM.

I would be willing to wait an extra few months for a Camaro, as long as I know GM will be the continuing great company for years to come.
 
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