Automakers would cede control in exchange for $15 billion in aid + video + Bailout stalls

Dandelion Salad

Updated: see below

By David Lightman and Kevin G. Hall
McClatchy Newspapers
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.

[…]

via McClatchy Washington Bureau | 12/08/2008 | Automakers would cede control in exchange for $15 billion in aid.

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Nancy Pelosi & Barney Frank Press Conference (Auto Bailout)

CSPANJUNKIEdotORG

http://cspanjunkie.org/
December 08, 2008 C-SPAN

Vodpod videos no longer available.

more about “Nancy Pelosi & Barney Frank Press Con…“, posted with vodpod

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Updated

$15 billion Detroit bailout stalls over GOP reservations

By David Lightman
McClatchy Newspapers
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.

[…]

via McClatchy Washington Bureau | 12/09/2008 | $15 billion Detroit bailout stalls over GOP reservations.

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see

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