Bailout Turns on Auto Makers' Viability

Wall Street Journal

Democrats in Congress pushed ahead with proposals to bail out Detroit's faltering auto makers, but the Bush administration signaled its reluctance to go along without significant restructuring to cure the companies' competitive ills.

House Financial Services Chairman Barney Frank (D., Mass.) said Wednesday that he plans to hold a hearing next Wednesday, during a lame-duck session of Congress, with the chief executives of the Big Three auto makers and the head of the United Auto Workers union. It is unclear whether the executives will be grilled on the industry's problems, or asked to just formally present their requests for money.

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