Today's Big Three Hearing Video HighlightsDecember 4, 2008 - by Donny Shaw
Ford, GM and Chrysler executives were back in front of Congress today to ask again for a $34 billion “bridge loan” that they claim they need in order to survive. Here are some video clips of memorable moments from today’s hearing – as you can see, opposition to giving the companies money seems to be just as strong as it was during the last round of hearings.
First, here are the Big Three executives rolling up to the Capitol in their companies’ newest hybrid models and speaking briefly to the press:
In his opening remarks, Senator Shelby (R-AL) notes that in the past two weeks, the loan request has jumped by $9 billion. Why should we believe the companies will not keep coming back for more?:
Sen. Mike Crapo (R-ID) asks, if the executives would accept an oversight board that has the power to impose restructuring conditions as a Chapter 11 court could?:
Senator Bob Corker (R-TN), ever skeptical of the bailout, asks Chrysler why Cerberus, their healthy portfolio parent company, won’t give them the money they need:
Corker argues that Chrysler isn’t even looking for long-term viability:
A protest breaks out while Senator Jon Tester (D-MT) is speaking. “The bailout is a sellout, the poor are suffering, put the money in the foodbank where people need it”
Chairmen Dodd (D-CT) gets Ford CEO Mullaly to validate his point that a collapse of the Big Three falls into the category of systemic financial risk:
UAW President Ron Gettelfinger widens the scope, recommends looking at unfair trade agreements, heath care policy:
Thanks to Voice of Americans for posting many of these videos.