Tipsheet

The Auto Bailout Cometh

Amanda Carpenter | December 19, 2008 9:02 AM

President Bush announced a plan to release $17.4 billion in loans to GM and Chrysler with the promise they become profitable "soon."

"Allowing the US auto industry to collapse is not a responsible course of action," the President said Friday morning.

The $17.4 billion will come from the TARP.