[jimotis4heisman]

Auto Task Force Set to Back More Loans -- With Strings - WSJ.com

President Barack Obama last month handed his auto-industry team a seemingly impossible task: to engineer the most complicated industrial restructuring ever attempted by the federal government, and to do it fast.
With almost no experience in the car business, the team's dozen core members have undergone a crash course in the myriad woes plaguing the U.S. auto industry. Within days, just over a month after setting to work, they'll begin announcing decisions.
Interviews with task-force members indicate that the administration doesn't want to let General Motors Corp. and Chrysler LLC slip into bankruptcy protection, a course advocated by some critics of the industry. Instead, the task force is expected to say that it sees viable futures for both GM and Chrysler, but only if there are sacrifices from their managements, unions and GM's bondholders. The team will also lay out a firm timeline for action.
The government is prepared to lend the companies more money. The two companies have requested $22 billion more -- including $9 billion for the second quarter
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more bailouts for detroit. at some point theyll have been bailed out enough to pave the streets with gold...