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.

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In addition, if the companies don't come up with a negotiated plan, the car czar can submit his own, which could include reorganization under Chapter 11 bankruptcy.

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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 car czar and green jobs czar to the more standard drug and Middle East policy czars.

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"They have a Great Lakes czar, they have all these different czars, a car czar and numerous other czars, who are making very important critical decisions of the government, but they don't have to go through Senate confirmation, " said Brian Darling of the Heritage Foundation.

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The idea of a single "Car Czar" to oversee the rebuilding of the auto industry is now out the window, replaced by a task force led by Treasury Secretary Tim Geithner and National Economic Council Director Larry Summers, two of the most over-extended men in the history of American government.

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