QUOTEBOX: Auto execs, lawmakers sound off on bailout idea

(Reuters) - Following are comments by top executives with General Motors Corp, Ford Motor Co and Chrysler LLC, and by U.S. lawmakers about the industry's pleas for federal assistance:

Robert Nardelli, chief executive of Chrysler:

"Without immediate bridge financing support, Chrysler's liquidity could fall below the level necessary to sustain operations in the ordinary course."

"We are willing to provide full financial transparency, and welcome the government as a stakeholder -- including as an equity holder."

"The overall amount and cost of financing the restructuring will be significantly higher in a Chapter 11 process than the working capital bridge we are requesting here today."

"I think the systemic risk would be dramatic across the entire economy," Nardelli said when asked what impact a bankruptcy filing would have on the U.S. economy. "The lenders, the financial institutions would be at total risk relative to being able to recover their investments in this industry .... There would be tremendous impact on the financial institutions."

Alan Mulally, Ford Motor Co chief executive:

"I think the most significant risk would be what would happen to economic development, the GDP growth," Mulally said, when asked by a lawmaker about the impact of an automaker's bankruptcy.

Rick Wagoner, General Motors chief executive:

"It's about saving the U.S. economy from a catastrophic collapse.

"Our industry, which represents America's real economy, needs a bridge to span the financial chasm that has opened before us.

"We'll use this bridge to pay for essential operations, new vehicles and powertrains, parts from our suppliers, wages and benefits for our workers and retirees, and taxes for state and local governments that help deliver essential services to million of Americans.

"In the process, we'll continue to reinvent the automobile, and improve the nation's energy security, through development of advanced technologies like those in the Chevy Volt.

Sen. Lindsey Graham, South Carolina Republican:

"Detroit's basic problem is that they created a business model that doesn't have a snowball's chance in Hell of surviving in a global economy.

"They are going to have to either just consolidate or go into bankruptcy and come out of bankruptcy under Chapter 11 with a business plan with a chance of surviving.