Watt: We Are Very Much Between A Rock And A Hard Place
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Watt: We Are Very Much Between A Rock And A Hard Place
On November 19,2008, the House Financial Services Committee held a legislative hearing on extending the Department of Treasurys Troubled Asset Relief Program (TARP) to the U.S. auto industry. The draft legislation will extend the recently passed TARP program to help the financial stability of the American car industry. Testifying in the second panel were Mr. G. Richard Wagoner, Jr., Chairman and Chief Executive Officer, General Motors Corporation, Mr. Robert Nardelli, Chief Executive Officer, Chrysler, LLC., Mr. Alan Mulally, President and Chief Executive Officer, Ford Motor Company, and Mr. Ron Gettelfinger, President, United Auto Workers. For the full archived hearing video or to read prepared testimony, visit: http://www.house.gov/apps/list/hearing/financialsvcs_dem/hr111908.shtml Rep. Watt: "We are in much the same position that we were with the original bailout. We are very much between a rock and a hard place and the hard place is coming from the public out there who has a great resistance to bailing out anybody else, as they did in the original bailout."
YouTube | November 20, 2008
