The proposed automotive bailout car czar is almost a reality. Five Senators have urged President Barack Obama to quickly appoint a team to oversee the federal bailout of GM and Chrysler. The group included Michigan Senators Carl Levin and Debbie Stabenow.

The only question left is who, exactly, will fill the post.

A leading candidate for the position of “car czar” is said to be Steven Rattner, a partner in the private-equity firm Quadrangle Group in New York City.

Speculation is rife that, if not the car czar, a key member of the car czar’s team will be analyst Stephen Girsky, who leads a private-equity firm. Girsky has consulted for General Motors and recently advised the UAW in its efforts for federal loans. On February 4, Girsky attended meetings on auto issues with House Speaker Nancy Pelosi and other Congressional leaders.