GM, Chrysler and U.S. Treasury’s role

The U.S. Treasury has said that they will not step in and get involved in any of General Motors Co (GM) or Chrysler LLC management decisions, even though they have pumped more than $70 billion to help them restructure their companies while in bankruptcy.

The assistance from the U.S. government helped GM and Chrysler out of an awkward situation, but Ron Bloom, the senior adviser to the White House-appointed auto task force has been telling Reuters that if they had their way they would not do the same again.

Obama’s administration efforts will now be judged on how quickly GM and Chrysler will be able to pay the taxpayer back. There could be a public offering of the automakers stock in 2010, this is one way for the taxpayer to get at least some of their money back.

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