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Intrepidation

Low wages, little glory: Government's Auto Task Force is hiring, looking for Wall Street experience

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Curious what it takes to be a member of the recently-created Auto Task Force? Thanks to an email sent out by Harry J. Wilson, a newly-hired Task Force worker, there's no need to wonder. Some knowledge of the auto industry would reportedly be helpful, though prospective applicants and their family members cannot currently own any stock in the Detroit automakers or serve on any of the D-3's boards of directors. Would-be applicants would also need to be "sufficiently intellectually and professionally nimble," whatever that means, and have 8-12 years of experience on Wall Street.

Why would Wall Street experience be helpful? It's no secret that the government is hoping that GM and Chrysler can renegotiate and reduce their massive piles of debt, and employees familiar with how complicated financial markets operate might be adept at dealing with creditors. Of course, there's also the matter of learning the intricacies of the automotive market, but it seems those skills may be less important in the short term.

Autoblog

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So...they want the same people experienced with screwing up the economy charged with helping oversea the auto industry?

This has EPIC FAIL written all over it.

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Given that one of the biggest issues at GM is their bondholder situation, Wall St experience is certainly necessary.

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