Watch CBSN Live

They Need Much Mo Money

Mark Zandi, the chief economist of Moody’s and a former economic advisor for McCain’s presidential campaign, says he supports a bailout to avoid an otherwise inevitable bankruptcy.

But he puts the price tag much higher, arguing that the $34 billion won’t be enough to keep the Big Three solvent for the next two years. The companies really need, says Zandi, somewhere in the range of $75 billion to $125 billion.

Sen. Shelby notes that the $125 billion number would be more than 1% of GDP.


View CBS News In
CBS News App Open
Chrome Safari Continue