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Friday, December 12, 2008

More on TARP Bailout of GM

by Calculated Risk on 12/12/2008 09:31:00 PM

From Bloomberg: Wagoner Said to Confer With Paulson, Bolten on Rescue

General Motors Corp. Chief Executive Officer Rick Wagoner spoke today with White House Chief of Staff Joshua Bolten and Treasury Secretary Henry Paulson about a short-term rescue plan to keep the automaker solvent ... The talks, conducted by telephone, focused on details including the amount and source of funding...

GM Chief Financial Officer Ray Young and other executives probably will work on the details with administration staffers this weekend, although any agreement isn’t likely until next week at the earliest ... Stephen Feinberg, founder of Chrysler owner Cerberus Capital Management LP, was also in talks with administration officials today ...
Not much new, but the Treasury is working weekends again.