Rep. Waters: Here are the Big Boys

On November 19,2008, the House Financial Services Committee held a legislative hearing on extending the Department of Treasurys Troubled Asset Relief Program (TARP) to the U.S. auto industry. The draft legislation will extend the recently passed TARP program to help the financial stability of the American car industry. Testifying in the second panel were Mr. G. Richard Wagoner, Jr., Chairman and Chief Executive Officer, General Motors Corporation, Mr. Robert Nardelli, Chief Executive Officer, Chrysler, LLC., Mr. Alan Mulally, President and Chief Executive Officer, Ford Motor Company, and Mr. Ron Gettelfinger, President, United Auto Workers.

For the full archived hearing video or to read prepared testimony, visit: http://www.house.gov/apps/list/hearing/financialsvcs_dem/hr111908.shtml

Waters: "I'm still traumatized by the hearing that we had yesterday, and Secretary Paulson's denial of not paying attention to the loan modifications that we thought we would be getting as a result of the $700 billion bailout bill that we worked so hard to pass.

So, on the heels of that, we have here today the automobile companies, and asking for their share of support from the Congress of the United States -- from the people, to make sure that they're able to maintain their businesses.

And what we basically get here are the big boys, the big industries, who are well connected, have a lot of influence, and basically are too big to fail."

Category:

News & Politics

Tags:

• Waters
• Congress
• Democrats
• Auto
• GM
• Ford
• Chrysler
• UAW
• TARP
• Economy

[gary23902003]

Democrat from California.

[killaxm]

Hehe Ms. Waters is too soft, get someone like David Addington up there!

[cavok84]

no i can't

[TrooperRaven]

At 2:29 Waters refers to the "National Association of Minority Car Dealers". You have got be kidding me. Waters asks for a special set aside ($1 billion) for the black dealers. If the whole thing weren't so pathetic it would be laughable.

[pminner]

YES OR NO! How hard is it!

[claymatthewcampbell]

the word is pronounced "asking" not "afskin" can you believe this stupid bitch is making valued decisions on our lives?

[mskydolphin]

"There's a sucker born every day" ~ B. Baily

[TheGreenJeepKing]

the audio blows

[dbvalentine]

Not another executive sycophant who just doesnt get it.JRodangus google an article titled 'Bosses go Begging but keep silver spoons'.U might see the irony (& fault) in it. $20,000 each!Eg.If they did their jobs properly they wouldnt have been making gas gusslers & invested in more renewable energy efficient cars.4 being such failures lets use a large chuck of their own money.Good luck with yr golden parachute ambitions but I think (& hope) those days r well & truly gone.They r disgusting people

[JRodangus]

Your a dumb shit. They have multi billion dollar companies to run and you want them to spend a few extra hours to fly commercial. One minute of their time is worth your whole life. How the hell they got there has nothing to do with saving millions of jobs and a whole industry.