Bailout Watch 405: Pelosi Statement on Restructuring Plans of U.S. Automakers

Robert Farago
by Robert Farago

“The submission of restructuring plans by GM and Chrysler represents the next step in what has been a difficult and disappointing chapter for the American economy, but I hope will become the transformation of our domestic automobile industry into a viable, technologically advanced, and globally competitive manufacturing force.

“In the coming weeks, the Obama Administration will review these plans and assess whether the shared sacrifice required of all stakeholders affected by the auto companies’ current conditions—workers, executives, bondholders, and shareholders—will result in reasonably restructured corporations, with good, high-paying jobs for the future.

“Congress looks forward to working with the Obama Administration on any future actions that may be needed to move our domestic automobile industry on a path of global competitiveness and advanced energy efficiency technologies, while ensuring accountability to the taxpayers.”

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  • Luther Luther on Feb 18, 2009

    Because she is a lying parasite who thinks she owns my income. She is every man's ex-wife. I can't wait for the Pelosi 5000 GTS Turbo!

  • Stuki Stuki on Feb 18, 2009

    "...Obama Administration will review these plans and assess..." And considering how much 'The Obama administration' obviously knows about producing copetitive vehicles at competitive prices, who could possibly doubt their 'assessment' will be any less than divinely inspired?

  • CAHIBOstep CAHIBOstep on Feb 18, 2009

    @Kurt. "-I might be tempted to call her a C**t or a B***h but I won’t …for now." Thanks!

  • B-Rad B-Rad on Feb 19, 2009

    So why didn't she just say, "In a couple weeks, we'll give GM and Chrysler some more money. We will continue to do so until they are profitable."? Cause that's all I got from her statement.