Automotive Industry – Full Committee Hearings
Here is the testimony from both hearings this week.
Automotive Industry – Full Committee Hearings
U.S. House Committee on Financial Services
http://financialservices.house.gov/
Hearings
U.S. House Committee on Financial Services
http://financialservices.house.gov/hearings.html
Hearing: Stabilizing the Financial Condition of the American Automobile Industry
U.S. House Committee on Financial Services
Date: 11/19/08
Time: 10:00 AM
Place: 2128 Rayburn House Office Building
http://www.house.gov/apps/list/hearing/financialsvcs_dem/hr111908.shtml
CSPAN coverage
http://www.c-spanarchives.org/library/index.php?main_page=product_video_info&products_id=282476-1
*not aired thus far
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U.S. Senate Committe on Banking, Housing, and Urban Affairs
http://banking.senate.gov/public/index.cfm?fuseaction=Home.Home
Hearings
U.S. Senate Committe on Banking, Housing, and Urban Affairs
http://banking.senate.gov/public/index.cfm?FuseAction=Hearings.Home
Hearing: Examining the State of the Domestic Automobile Industry
U.S. Senate Committe on Banking, Housing, and Urban Affairs
Date: 11/18/08
Time: 3:00 PM
Place: 538 Dirksen Senate Office Building
http://banking.senate.gov/public/index.cfm?Fuseaction=Hearings.Detail&HearingID=0b8c3c92-b599-46f4-90b3-7f4e37583268
CSPAN coverage
http://www.cspan.org/Watch/watch.aspx?MediaId=HP-R-12771
November 20th, 2008 at 6:39 am
For those who do not have the time to review the transcripts, I can save you the time. The gist of the big 3 exec’s testimony is as follows:
“It’s not our fault. If you let us fail, the American economy will fail, too. We gave the consumer what they asked for. We have a plan – we don’t know what that is exactly, but we have one. If you give us the money, we couldn’t tell you what we would do differently.”
So there, more from the great thinkers and strategists of the crumbling American once great industrial base.
November 20th, 2008 at 7:40 am
Gee, doesn’t this sound just like Ben and Hank show all over again; The sky is falling! The sky is falling! If you don’t give us the money right now, the world as we know it will come to an end.
The $700B was approved and nothing changed because no one was sure what to do and what would really work; but we just needed to throw money at it fast. The insitent badgering of the GM ceo on how much was needed until the end of March got nothing more than: Gee, I don’t know, we just need money.
Why should we bailout companies with an obvious bunch of “mis-managers” such as these and the bad baggage they are dragging along with them.