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Financial meltdown update: Congress tells Big Three to come back with a plan

 
Financial meltdown update: Congress tells Big Three to come back with a plan | Published: November 21, 2008    Comment on this article Leave a comment

Congress tells Big Three

to come back with a plan

WASHINGTON — Show us the plan and we’ll show you the money. That’s the message the Democratic-led Congress gave Detroit’s Big Three automakers Thursday. With that, bailout-fatigued lawmakers closed shop for Thanksgiving. The deadline is Dec. 2. That’s when General Motors Corp., Ford Motor Co. and Chrysler LLC have to give Congress a plan for rebuilding and modernizing their industry that’s convincing enough to persuade skeptical lawmakers that they should get a federal lifeline.

photo - Sen. Carl Levin, D-Mich., center, and Sen. Christopher Bond, R-Mo., left, listen as Sen. Arlen Specter, R-Pa. speaks at a news conference on the auto industry bailout, Thursday, Nov. 20, 2008, on Capitol Hill in Washington. (AP Photo/Gerald Herbert) ORG XMIT: DCGH129
Sen. Carl Levin, D-Mich., center, and Sen. Christopher Bond, R-Mo., left, listen as Sen. Arlen Specter, R-Pa. speaks at a news conference on the auto industry bailout, Thursday, Nov. 20, 2008, on Capitol Hill in Washington. (AP Photo/Gerald Herbert) ORG XMIT: DCGH129

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