Some Estimates As High As $75 Billion-$125 Billion To Save Industry, Reports CBS' Sharyl Attkisson

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Some Estimates As High As $75 Billion-$125 Billion To Save Industry, Reports CBS' Sharyl Attkisson by 158
U.S. automakers drew fresh skepticism from lawmakers Thursday in a rocky confrontation over their pleas for an expanded $34 billion rescue package they say they need to survive.

After the six-hour hearing before the Senate Banking Committee, General Motors Corp. CEO Rick Wagoner said he's optimistic that Congress will reach an agreement to help his company survive its critical cash shortage.

Wagoner said he's encouraged that Banking Committee Chairman Chris Dodd, D-Conn., expressed an interest in staying in Washington until a rescue plan can be crafted

But with time on the current Congress running out, opposition to the bailout appeared to be as strong as last week - before Detroit's Big Three auto chiefs returned to Congress with more detailed plans on how they would spend the money.

And congressional analysts said one bailout plan under consideration would fall short of what the carmakers want.
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Title: Some Estimates As High As $75 Billion-$125 Billion To Save Industry, Reports CBS' Sharyl Attkisson
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Created: Thu, 12/04/2008 - 9:01pm
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