Lawmakers are still bickering over the GM and Chrysler bailouts

Article by Christian A., on August 27, 2010

The bickering still continues between the Democrats and Republicans months after Chrysler Group and General Motors Co. emerged from bankruptcy protection with a government ownership stake in the companies in exchange for the billions of dollars they received in federal loans. Trading barbs all last week were Rep. Gary Peters, D-Mich., and Sen. John McCain, R-Ariz.

McCain said last Sunday that while serving as grand marshal at a NASCAR race, he said that he wanted to meet "anybody [who] believes that Chrysler is going to survive." 

Peters accepted the challenge, saying that McCain should check out Chrysler's headquarters for himself in the hopes that he might "choose to be a partner in the continued success of an industry critically important to our country."

When McCain responded that he had meant that any objective observer will be doing the examination, Peters quickly compiled a list of independent industry experts to vouch for him.

GM had posted a $1.2 billion third-quarter loss on Monday, and right away, Republican National Committee Chairman Michael Steele issued a statement that said GM's loss was "further proof that President Obama's economic experiments are wrong for America." 

If you liked the article, share on:

Topics: gm, chrysler

Comments

Recommended

There is no question that the new BMW M5 (F90) high performance sports sedan is more powerful, faster and more enticing than the previous model. But for interested customers in...
by - November 23, 2017
Following the Tesla Roadster’s electrifying revelation on Thursday, Musk’s highly ambitious goals have skyrocketed when he tweeted about his future plans for the new sports car. Well, kind of. The...
by - November 23, 2017
Earlier in November at the 2017 SEMA Show in Vegas is when Hennessey unwrapped the Venom F5 to all of us. But it was actually first introduced as a concept...
by - November 22, 2017
Mercedes-Benz just made an announcement that the 2018 E Class Cabriolet has finally landed in the United States. If you had not known, the E Class will be positioned in...
by - November 22, 2017
After a somewhat successful fray into the automotive market in China, the resurrected German automobile brand Borgward is finally heading to Europe, bringing along with it the Borgward BX7 sports...
by - November 22, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries