This is just so predictable. Our national Car Czar (well, not technically) Steve Rattner says that GM and Chrysler might need way more than the $20 billion or so they’ve requested.
“It could be considerably higher, I won’t deny that,” Rattner said, when asked whether U.S. aid sought could rise to $30 billion or $40 billion. Rattner spoke in an interview on Bloomberg Television’s “Political Capital with Al Hunt,” scheduled to air today.
Rattner and President Barack Obama‘s auto task force are assessing proposals from GM and Chrysler and deciding whether to recommend additional aid or tip the car companies into bankruptcy. Rattner said the task force will give its “sense of direction” before March 31. Chrysler and GM have received $17.4 billion since December and requested more last month.