With bad bailout-buzz in the air, Detroit's difficult-sell job has become even more daunting. Despite GM CEO Rick Wagoner's insistence to a Senate panel last week that "I'm not here today asking for any bailouts," that's exactly how many in Congress—and throughout America—saw it. The auto bosses would like to cast the $25 billion as something that should be a done deal since Congress authorized that financial assistance in last year's energy bill, which required automakers to increase the car's average fuel economy by 40 percent, to 35 miles per gallon, by 2020. The only problem: Congress never actually funded the $25 billion, which is what Detroit is desperately seeking before Congress adjourns Sept. 26. But a common view in Washington and elsewhere is that Detroit drove itself to desperation with its dependence on SUVs and pickup trucks. And now, critics say, the not-so-Big Three don't deserve federal help to overhaul factories from churning out gas guzzlers to make mileage misers.
i find this part of the article rather interesting seeing as they only produce what consumers seem to want to buy and if you ask me the American peoples are the ones who don't understand an SUV or Super Duty(haha i said duty) truck to go to and from an office job just doesn't work. you have to remember they wouldn't be making it if it wasn't selling.
"They're not too big to fail," Sen. Richard Shelby, the top Republican on the Senate Banking Committee, told CNBC last week. "I don't see [Detroit's woes] as a national problem. I see it as their problem."
i also find this to be absolutely hilarious to big to fall eh isnt that what they said about fanny and freddi or aig and this bugger is on the Banking Committee HA
NewsWeek
