In an interview today, Steven Rattner, lead advisor for President Obama's Auto Task Force, gave the first public statement about the group's mission when he said "bankruptcy is not our goal" for GM and Chrysler.
The words from Rattner, who was the desired choice of car czar until his wife's legal obligations forced a task force on the administration, claims in an interview with the Detroit Free Press that the group would like to solve the company's problems "outside bankruptcy to the maximum extent" possible, leaving open the option of future funding or a pre-packaged non-bankruptcy bankruptcy that does the same things without the harsh name.
Advertisement
Photo Credit: ERIC THAYER/Reuters