Financial Services to Examine Detroit's Plans

After Democratic leaders demanded that the Big Three present a business plan before they see billions in federal assistance, the House Financial Services Committee announced today that it would examine the industry's progress in making such plans at a Dec. 5 hearing.

The committee will hold a hearing entitled "Review of Industry Plans to Stabilize the Financial Condition of the American Automobile Industry" on that date at 9:30 a.m. in Rayburn. The committee has not announced whether the CEOs of Ford, Chrysler, and General Motors will be called to testify.

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