'Progress' seen in US auto bailout deal

Wikinews
December 7, 2008

Officials say that progress is being made in a deal to bail out three United States carmakers. The U.S. government will be holding weekend talks on the plan after two days of Congressional hearings.

Dana Perino, the White House press secretary, stated that discussions with both parties had been "constructive".

Executives from the three companies - General Motors, Ford, and Chrysler - have pleaded before two Congressional committees, asking for $34 billion in order to stop collapse.

"I'm convinced that by Sunday we will have an agreement that people can understand on this bill," said Barney Frank, a representative from the state of Massachusetts.

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