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White House Signals They May Salvage Auto Bailout Plan
Friday, 12 December 2008 13:31:11 GMT
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In a press release issued this morning, White House Press Secretary Dana Perino expressed disappointment that Congress did not pass final legislation on the auto bailout plan. Amidst concerns about the potential for "disorderly" bankruptcy amongst the biggest auto makers in the US that would have "a severe impact on our economy," the White House is considering using TARP funding in order to salvage the plan. However, now that the US stock markets have opened, it appears that this statement has done little to boost confidence on the fate of the auto sector.
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