Democratic lawmakers and the White House reached a compromise late Tuesday to lend General Motors Corp. and Chrysler LLC $14 billion through proposed legislation that would give tremendous restructuring power to a government “car czar” and potentially open the books of Chrysler’s private-equity parent. If enacted by the end of the week, the initial loan would save GM and Chrysler from imminent bankruptcy. GM seeks a total of $18 billion from the government, while Chrysler says it needs $7 ...

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