Sunday, December 07, 2008

Sen Dodd calls for GM CEO Rick Wagoner to resign

Key senator calls for GM head to step down

An influential senator drafting a multibillion-dollar bailout for Detroit's Big Three automakers said Sunday that the head of General Motors should step down, while President-elect Barack Obama accused car industry executives of a persistent "head-in-the sand approach" to long-festering problems.

Sen. Chris Dodd, D-Conn., chairman of the Banking Committee, said GM CEO Rick Wagoner "has to move on" as part of a government-run restructuring that should be a condition of financial life support for the auto industry.

"I think you have got to consider new leadership," Dodd said on CBS' "Face the Nation."

Head in that sand like you guys watching Fannie and Freddie crash and burn? How about you resign first Senator Dodd.

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