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Obama signals government control over Chrysler and GM
President Obama asserted unprecedented federal control over the auto industry, rejecting GM and Chrysler turnaround plans and demanding new concessions for aid. He announced short term funding, backed new warranties, and outlined conditions for a possible bankruptcy, with Chrysler given 30 days and GM 60 days to revise plans as Wagoner is ousted.
MENTIONED IN THIS ARTICLE
Washington, D.C
Barack Obama
General Motors Corp
Chrysler LLC
Obama
Chrysler
United States of America
White House
Fiat Spa
Rick Wagoner
Bush
Federal Reserve
Fannie Mae
Freddie Mac
American International Group
Michigan