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 suit. "We will consider other options if necessary, including use of the TARP program, to prevent a collapse of troubled automakers," White House press secretary Dana Perino said today.
No comments:
Post a Comment