White House May Let Automakers Fail, Pelosi Says Bankruptcy "Not An Option"
[
RTTNews ]
04/12/08 , 02:56 /
5 reads
Despite warnings from Detroit's "Big 3" automakers that a single failure could pull down other companies, the White House Wednesday indicated it's still open to the idea of a possible bankruptcy. The chief executives of Ford, G.M. and Chrysler are scheduled to appear before Congressional panels Thursday and Friday to explain their recent request for a total of $34 billion in federal aid for the ailing industry - a figure substantially higher than the $25 billion they'd initially requested.
