Senator seeks answers on US stakes in GM, Chrysler

WASHINGTON, June 10 (Reuters) - The Obama administration must provide a clear explanation of how it plans to extricate the government from ownership stakes in General Motors Corp GMGMQ.PK and Chrysler LLC, Senate Banking Committee Chairman Christopher Dodd said on Wednesday.

Dodd told Ron Bloom, a senior member of Treasury Department's task force responsible for overhauling the auto indsutry, that the administration must also explain to Congress its rationale for decisions that lead to bankruptcies at both companies. (Reporting by John Crawley, editing by Leslie Gevirtz)