Senator Chris Dodd favors short-term package for automakers and long term restructuring

December 7, 2008

WASHINGTON (ChattahBox) – Senator Chris Dodd a key in the American automaker bailout decision, appeared Sunday on CBS’ “Face the Nation.” Dodd who heads the Senate Banking Committee, says the nation’s car companies should have to replace top executives in exchange for a long-term bailout package from Congress.

The Connecticut Democrat says he is hopeful Congress will pass a short-term $15 billion aid package for the automakers in the next several days. Dodd says the companies need quick cash to avoid collapse in the next several weeks.

But he says the companies should have to restructure if they want a more significant bailout from Congress next year.  Dodd says, over the long-term Chrysler probably should merge with another company and General Motors ought to be required to replace chief executive Rick Wagoner. Dodd says Ford is the healthiest of the Big Three U.S. automakers.


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One Response to “Senator Chris Dodd favors short-term package for automakers and long term restructuring”

  1. Senator Chris Dodd favors short-term package for automakers and long ... - Chattahbox.com | Automotive Store on December 7th, 2008 5:07 pm

    […] Read More … ) Related Tags: senator chris dodd, senate banking committee, chris dodd, cbs face the nation, […]

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