Updated: see below
By David Lightman and Kevin G. Hall
Dec. 8, 2008
WASHINGTON — Democratic congressional leaders agreed Monday to push a $15 billion auto-industry bailout plan that would require Detroit’s Big Three to restructure and answer to an overseer appointed by the president.
The plan, which Congress is likely to consider later this week, would give the government authority over major decisions by the automakers. General Motors, Ford and Chrysler would have to report progress to Congress regularly and come up with a long-term restructuring plans by March 31.
Nancy Pelosi & Barney Frank Press Conference (Auto Bailout)
December 08, 2008 C-SPAN
Vodpod videos no longer available.
$15 billion Detroit bailout stalls over GOP reservations
By David Lightman
Dec. 9, 2008
WASHINGTON — Efforts to craft a $15 billion auto-industry rescue plan stalled Tuesday as key Republican lawmakers raised serious questions about the package, but Democrats remained optimistic that they could get an agreement soon.
Democratic congressional leaders are pushing legislation to provide immediate help for General Motors Corp., Chrysler LLC and, potentially, Ford Motor Co., and to create a “car czar” with broad authority over how the money is spent and the companies are revamped.
FAIR USE NOTICE: This blog may contain copyrighted material. Such material is made available for educational purposes, to advance understanding of human rights, democracy, scientific, moral, ethical, and social justice issues, etc. This constitutes a ‘fair use’ of any such copyrighted material as provided for in Title 17 U.S.C. section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission from the copyright owner.