KKTV - Economy - Headlines

Dodd: Rising Joblessness Forces Aid For Automakers

By: Associated Press
Posted: Mon 9:17 AM, Dec 08, 2008
Senate Banking Committee Chairman Sen. Chris Dodd., D-Conn., center, speaks during a news conference with, from left, Sen. Bob Corker, R-Tenn., Sen. Charles Schumer, D-N.Y., Sen. Robert Bennett, R-Utah, Sen. Judd Gregg, R-N.H., and Sen. Jack Reed, D-R.I., following a meeting on the market turmoil on Capitol Hill in Washington, Thursday, Sept. 25, 2008. (AP Photo/Susan Walsh)

Senate Banking Committee Chairman Sen. Chris Dodd., D-Conn., center, speaks during a news conference with, from left, Sen. Bob Corker, R-Tenn., Sen. Charles Schumer, D-N.Y., Sen. Robert Bennett, R-Utah, Sen. Judd Gregg, R-N.H., and Sen. Jack Reed, D-R.I., following a meeting on the market turmoil on Capitol Hill in Washington, Thursday, Sept. 25, 2008. (AP Photo/Susan Walsh)

Sen. Chris Dodd says soaring unemployment across the country amounts to a "game-changer" in the debate over financial aid to the auto industry.

Dodd said on ABC's "Good Morning America" show Monday that with more and more people losing their jobs, Washington has no choice but to intervene to keep the Big Three auto makers from collapsing.

But Dodd also said he thinks any such plan should include a change in the top leadership of the car makers, although he also said that "it's not my job to hire and fire."

He did say he thinks overhauling the top management of Ford, Chrysler and General Motors is necessary as a gesture of good faith with the American public, whose money would be used for the bailout.


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