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Marketplace Scratch Pad

Cash guzzlers

Paddy Hirsch Mar 20, 2009

The US auto industry is really sucking wind, if Steven Rattner, the Treasury’s auto adviser has it right. Bloomberg quotes him saying $21.6 billion may not be enough.

“It could be considerably higher, I won’t deny that,” Rattner said, when asked whether U.S. aid sought could rise to $30 billion or $40 billion. “What they’ve asked for depends on them achieving plans that are somewhat ambitious,” Rattner said. “Like all management teams they tend to take a reasonably, slightly perhaps, optimistic view of their business. So it could be more, I can’t rule that out.”

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