Pelosi Wants Volcker as Auto Bailout Watchdog

Posted December 9, 2008 at 7:07am

It’s President George W. Bush’s decision to make, but Speaker Nancy Pelosi (D-Calif.) said Tuesday morning she thinks economist Paul Volcker should be the “car czar” appointed to supervise the auto industry bailout. Volcker, the former Federal Reserve Chairman under Presidents Jimmy Carter and Ronald Reagan and a current economic adviser to President-elect Barack Obama, has “the bipartisan confidence and public and private confidence” to oversee the initiative, Pelosi said during an interview on NBC’s Today Show. “Someone like that,” she said. “But again, that will be up to the president to name.” Pelosi said the auto bailout supervisor should be named “immediately. I would want the czar to be appointed before one dollar went out … Theoretically this week.” On a different topic, Pelosi said she expects the House to pass a separate, multibillion-dollar economic stimulus package in the first week of January. “We’re working on that right now, as we speak, on what would be the elements to grow our economy,” Pelosi said.