Detroit automakers would face strict oversight from a federal official and have to drop lawsuits against California’s limits on greenhouse gases from cars and trucks under a draft of the rescue obtained by the Free Press.

The final amount of the loans available under the plan was one of the issues still unresolved, with some lawmakers wanting more than the $15 billion that appeared available. General Motors Corp. and Chrysler LLC have said they need $8 billion before the end of the year to avoid collapse, and GM has said it could need $6 billion early next year.

Under the bill, automakers would have to submit a restructuring plan by March 31 to what’s being called a “financial viability advisor,” who would have the power to set negotiations among the company, unions and creditors. If the advisor deems the company isn’t making progress, the loans could be called back.

Catch the rest of the article here.  What a crock!  Now the government wants to run the auto industry!?  Give me a break.  The U.S. government cannot do anything right.  Now we are going to have the U.S. government with an 80% stake in U.S. banks and 100% stake in domestic auto production.  Reeks of COMMUNISM!  Socialism is too weak of a concept for how this is currently playing out.