NORWALK - Sen. Chris Dodd (D- Conn.) met with local car dealers Saturday to discuss the fate of America?s automobile industry, as well as the potential impact the rescue package could have on their businesses.
According to Dodd, inaction on the part of Congress in aiding the Big Three automakers would be unacceptable and detrimental to both the local auto industry and the economy in general.
?They talk about the Big Three, but here at the local level things are just as dire,? Dodd says.
The senator says negotiations are ongoing, but any rescue package provided by Congress to automakers will come with strict oversight and restrictions. Dodd believes even a partial bailout would be considered a success if it could prevent the Big Three from declaring bankruptcy.