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On November 19, 2008, there was a United States Senate hearing on the automotive crisis in the presence of the heads of Chrysler, Ford and General Motors. The auto manufacturers explained that they would need financial aid of $25 billion if they were to avoid bankruptcy. The Senate was divided on the issue.
The Emergency Economic Stabilization Act of 2008, also known as the "bank bailout of 2008" or the "Wall Street bailout", was a United States federal law enacted during the Great Recession, which created federal programs to "bail out" failing financial institutions and banks.
The U.S. auto industry was profitable in every year since 1955, except those years following U.S. recessions and involvement in wars. U.S. auto industry profits suffered from 1971 to 1973 during the Vietnam War, during the recession in the late 1970s which impacted auto industry profits from 1981 to 1983, during and after the Gulf War when ...
The Presidential Task Force on the Auto Industry was an ad hoc group of United States cabinet-level and other officials that was formed by President Barack Obama to deal with the financial bailout of automakers Chrysler and General Motors.
But Moreno, 57, backed by more than 1,000 auto dealers in a campaign that cost him and his rival, incumbent Democrat Sherrod Brown, a record $500 million, said the industry must focus on cars that ...
WASHINGTON — Vice President Kamala Harris on Tuesday broke the record by casting the most tie-breaking votes in the Senate in U.S. history. She has now broken 32 ties, beating the previous ...
President George W. Bush delivers a statement at the White House regarding the economic rescue plan. Public Law 110-343 (Pub. L. 110–343 (text), 122 Stat. 3765, enacted October 3, 2008) is a US Act of Congress signed into law by U.S. President George W. Bush, which was designed to mitigate the growing financial crisis of the late-2000s by giving relief to so-called "Troubled Assets."
The Senate voted 77-19 to begin debate on a measure that would fund the government through Nov. 17, and includes around $6 billion for domestic disaster responses and another roughly $6 billion in ...