To the Rescue: Bush to Give Low-Interest Loans to Carmakers

The White House has come to the rescue of beleaguered General Motors and Chrysler by providing them with $17.4 billion in low-interest loans, ABC News has learned. "In the midst of a financial crisis and a recession, allowing the U.S. auto industry to collapse is not a responsible course of action," President Bush said today. "It could send our suffering economy into a deeper and longer recession. And it would leave the next president to confront the demise of a major American industry in his...Full Story