Financial Times FT.com

Doubts cast on rescue of Detroit

By James Politi in Washington and Bernard Simon in Toronto

Published: November 13 2008 20:29 | Last updated: November 13 2008 20:29

Chris Dodd, chairman of the Senate banking committee, on Thursday cast doubt on the prospects for legislation to rescue the US car industry, saying there did not appear to be sufficient Republican support for a measure that would provide General Motors, Chrysler and Ford with an extra $25bn in ­emergency funding.

“Right now, I don’t think there are the votes,” said Mr Dodd, adding he was “not inclined” to move ahead with the bill without bipartisan agreement. “There are some political considerations to be made,” he said.

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