LET'S JUST ESTABLISH A FOURTH BRANCH OF GOVERNMENT AND PLACE IT COMPLETELY OUTSIDE THE CHECKS AND BALANCES SYSTEM

Seems that President Obama has dropped his plan to appoint a so-called "Car Czar" to oversee efforts to throw money out the window revamp the auto industry. Instead of appointing someone who actually knows something about the auto industry, the NY Times is reporting that Obama will place Tim Geithner and Larry Summers at the head of the presidential panel on the auto industry, to supervise distribution and monitoring of the $17.4 billion in loans already in place (H/T Naked Capitalism).

This makes sense because, as you surely know, Geithner worked a second job last summer as a welder on a Chrysler assembly line (withholding no taxes in the process as he desperately tried to supplement his paultry NY Fed income), while Summers taught a Harvard seminar called "How To Run A Detroit Industry From A Mexican Factory," when he wasn't insulting female faculty at his old university. So don't sweat it folks, we're in good hands here. If any duo can be trusted to do the right thing with seventeen billion, it's Tim and Larry.

Rumors that Obama will soon appoint Geithner as Ambassador to Iraq and Summers as Babysitter to Malia and Sasha have not been confirmed.