Big 3 Auto Executives Head to Capitol Hill
Making a second appearance in Washington DC to request $9 billion more than their previous trip, executives from General Motors, Ford and Chrysler asked the Senate Banking Committee for $34 billion dollars.
According to National Public Radio’s story Automakers Return to Congress to Ask for Billions:
“We’re here today because we made mistakes,” General Motors chief executive Rick Wagoner told the Senate Banking Committee. Wagoner, who drove to the hearing in a test version of the electric Chevrolet Volt, apologized for asking for the loans.
“We’re sorry to be asking for this support,” he said. “We wish the market conditions were better, but they’re not, so this is what we need to do.”
After you watch and read today’s coverage take a peek at the website OpenSecrets and you’ll learn something about the relationship the auto industry has had with the politicians that now sit in their judgement. Click here and find out which politicians were the biggest recipients of auto industry largesse in 2008.
And be sure to check out the new photos of MyBarackObamaPaperDoll.
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