Tuesday, October 28, 2008

Going down the WRONG road again

White House Explores Aid for Auto Deal

Published: October 27, 2008

WASHINGTON — The Bush administration is examining a range of options for providing emergency financial help to spur a merger between General Motors and Chrysler, according to government officials.

People familiar with the discussions said the administration wanted to provide financial assistance to the deeply troubled Big Three Detroit automakers, possibly by using the Treasury Department’s wide-ranging authority under the $700 billion bailout program that Congress approved this month.

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