Opposition to bailout intensifies
China Daily | Updated: 2008-11-18 08:06
Senators from Southern states with factories owned by Asian and European car manufacturers oppose a bailout of US automakers, saying the industry can thrive without General Motors Corp, Ford Motor Co and Chrysler LLC.
Republican Senators Richard Shelby and Jeff Sessions of Alabama, and James DeMint of South Carolina, are among lawmakers trying to derail Democratic plans, supported by President-elect Barack Obama, to provide at least $25 billion in loans to the three US companies.
"We have a very large and vibrant automobile sector in Alabama," Sessions told Bloomberg Television on Nov 11. "I don't feel like this is the end of the world."
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