DETROIT AP – Government loans given to General Motors Corp. and Chrysler LLC are only a stopgap measure, an attorney whose firm has been hired by the Treasury Department to advise it on how to aid the ailing automakers said Thursday.
“Right now there’s a loan that’s been put in place, that’s a temporary fix,” said Deryck Palmer, a partner for Cadwalader, Wickersham & Taft LLP. “Everyone wants to find a more global solution to the problems facing the automakers.”