The Auto Bailout Cometh

Amanda Carpenter
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Posted: Dec 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.