White House May Reconsider Using TARP Money to Prevent Industry Collapse
The White House said today it would be "irresponsible" to let Detroit's automakers collapse and suggested it will use a bailout fund it had previously said was not meant for the sinking car industry.
The revised view came the morning after senators killed an effort to provide $14 billion in emergency loans to Detroit automakers when a last-ditch attempt to renegotiate the deal collapsed. The House had passed its version of the measure on Wednesday night but the Senate was unable to follow... Full Story
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