• Hill Leader Says Jobs Report Argues For Car Rescue

    Comments: 0  | Leave A Comment

    The chairman of the House Financial Services Committee says the new bleak unemployment figures makes helping the nation’s beleaguered auto industry even more urgent.

    <br />

    Rep. Barney Frank, a Massachusetts Democrat, warned that doing nothing would be a disaster in the middle of what he called the worst economic crisis in 70 years.

    Frank spoke during the second day of testimony from Detroit’s Big Three automakers for a government bailout of up to $34 billion — and shortly after the government reported the biggest monthly job loss in 34 years.

    Congress is considering a range of options, including a government-run oversight board. But no plan seems to be gaining much traction.

    Join the Conversation! Share and Discuss!

    Tags: » »


    Leave a Comment


    Get every new post delivered to your Inbox.

    Join 450 other followers