×

Task Force Head Says Gov't Won't Run Automakers

The head of the task force overseeing the auto industry says the U.S. government will not use its stake in General Motors to make social policy.

Task Force Chairman Ron Bloom told reporters Tuesday that the management of GM and Chrysler will be left to their boards of directors. He says policies such putting out more fuel efficient cars or pollution limits will be made separately by the Obama administration and will apply to the entire auto industry.

GM and Chrysler have received a total of $65 billion in federal aid, and both have emerged from Chapter 11 bankruptcy protection. The U.S. government owns 61 percent of GM and about 10 percent of Chrysler with the Canadian government.