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Pelosi, Reid Call On Paulson To Use Authority To Provide Aid To Auto Industry

Follow up to November 7, 2008 posting – Is a Government Bail-Out In GM’s Future? – this November 8 press release: “Senate Majority Leader Harry Reid and Speaker Nancy Pelosi today sent a letter to Treasury Secretary Henry Paulson calling on him to review the feasibility of using the authority given under the Emergency Economic Stabilization Act (EESA) of 2008 to provide temporary assistance to the automobile industry during this financial crisis. Senator Reid and Speaker Pelosi added: “Were you to determine that the automobile industry is eligible for assistance under EESA, we would urge you to impose strong conditions on such assistance in order to protect taxpayers and maximize the potential for the industry’s recovery.”

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