Bush bails out the Big Three
Merry Christmas, Detroit.
President Bush swooped to what could be the Big Three's rescue Friday, pledging $13.4 billion in emergency loans for General Motors and Chrysler and another $4 billion in February if they need it. The money will come from the Treasury Department's Troubled Asset Relief Program, since Congress refused to provide the loans the auto manufacturers said they needed to stay… » Full Story on Salon.com
President Bush swooped to what could be the Big Three's rescue Friday, pledging $13.4 billion in emergency loans for General Motors and Chrysler and another $4 billion in February if they need it. The money will come from the Treasury Department's Troubled Asset Relief Program, since Congress refused to provide the loans the auto manufacturers said they needed to stay… » Full Story on Salon.com
