by Calculated Risk on 12/12/2008 09:31:00 PM
Friday, December 12, 2008
More on TARP Bailout of GM
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...Not much new, but the Treasury is working weekends again.
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 ...