LIVE (11/19): Auto Industry Bailout Hearingby Tim Manni
Click here to view the hearing between auto industry executives and the House Financial Services Panel. This could be one of the last remaining chances for Big Three executives to convince lawmakers that a multi-billion dollar loan is needed and worthwhile to save their industry.
Many lawmakers feel the American auto industry has yet to define the root cause of their failures, or specifically explain how they will spend government funds. If funding is granted, we can be assured major changes in management and production will be demanded from the Big Three.