US Senate banking chief (Dodd) confident on auto bailout

[Truth Teller]

Source: Reuters

U.S. Senate Banking Committee chairman Chris Dodd said on Monday he was confident the U.S. government would help U.S. auto makers with bridging loans to survive the financial crisis.

He said it was possible the government would use the so-called TARP (Troubled Asset Relief Program) fund to bail out the main U.S. car manufacturers.

"These companies are burning through cash at an incredible rate," he said.

"What the loans do is to allow them to survive basically into the first quarter, particularly in the case of GM (GM.N: Quote, Profile, Research, Stock Buzz) and to some degree Chrysler LLC as well," he told reporters on the sidelines of a conference in Dublin.



Read more: http://www.reuters.com/article/marketsNews/idUSLF31676720081215

[Gin]

1. why are we willing to bail Chrysler since its a private company

owned by very wealthy investors? Can we even do that?

[Double T]

2. Hey chris, when are YOU going to do SOMETHING about the.........

GD corrupt credit card divisions of the criminal banks? We're still waiting......

[natrat]

3. fuck you dodd you piece of shit giving trillions to the banks you scumbag