Big 3 Execs Finish With Senate

CEOs to make their case to the House tomorrow

By Nick McMaster, Newser Staff

Posted Dec 4, 2008 4:14 PM CST

Copied

Big 3 Execs Finish With Senate — Chrysler Chief Executive Officer Robert Nardelli, right, shakes hands with Senate Banking Committee Chairman Sen. Christopher Dodd, D-Conn., on Capitol Hill in Washington, Thursday, Dec. 4, 2008. (AP Photo/Gerald Herbert)

The CEOs of the Big Three wrapped up a six-hour session with the Senate Banking Committee during which they asked for a minimum of $34 billion in aid, the Washington Post reports. Chairman Chris Dodd vowed to draft a bill “in the next 24-48 hours" that stood a chance of passing both houses and ducking a Bush veto. The execs face the House Financial Services Committee tomorrow.

"We're here today because we made mistakes, which we're learning from," GM's Rick Wagoner told the panel. "And we're here because forces beyond our control have pushed us to the brink. Most importantly, we're here because saving General Motors, and all this company represents, is a job worth doing." (More General Motors stories.)

Report an error