Government Assistance for Automotive Industry

Dec 4, 2008


1

U.S. Senate Senate Committee Banking, Housing and Urban Affairs

A hearing was held on requests from Ford, Chrysler, and General Motors for federal financial assistance to the domestic automotive industry. Executives from the auto companies requested a total of $34 billion in aid, an .. Read More
A hearing was held on requests from Ford, Chrysler, and General Motors for federal financial assistance to the domestic automotive industry. Executives from the auto companies requested a total of $34 billion in aid, an increase from the previous request of $25 billion which was rejected by congressional leaders without a plan to revitalize the industry. Mr. Dorado focused on ways to establish proper oversight of any loans made to the companies, as well as setting standards for management decisions. He was followed by automobile company executives and union leaders who testified about their proposals, the state of the auto industry, and the potential impact on the economy of the failure of the industry.

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