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McCain: Wagoner resignation is 'window dressing'
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03/30/09 04:58 AM ET
Asking GM CEO Richard Wagoner to resign is "window dressing" on a larger problem, Sen. John McCain (R-Ariz.) said Monday.
Reacting to the Obama administration's decision to fund the troubled automaker for 60 more days while it still works at its restructuring plans, McCain called for a managed bankruptcy for the pillar of Detroit industry.
"Calling for GM CEO to resign is unprecedented window dressing," McCain tweeted. "GM needs restructuring as part of pre-negotiated bankruptcy package."
Like many Senate Republicans, McCain has been critical of the administration's steps to keep GM and Chrysler afloat as it loses billions of dollars in a sagging consumer and credit market.
Cross-posted on The Briefing Room.
Reacting to the Obama administration's decision to fund the troubled automaker for 60 more days while it still works at its restructuring plans, McCain called for a managed bankruptcy for the pillar of Detroit industry.
"Calling for GM CEO to resign is unprecedented window dressing," McCain tweeted. "GM needs restructuring as part of pre-negotiated bankruptcy package."
Like many Senate Republicans, McCain has been critical of the administration's steps to keep GM and Chrysler afloat as it loses billions of dollars in a sagging consumer and credit market.
Cross-posted on The Briefing Room.
