House approves $14 billion auto industry bailout
WASHINGTON (Reuters) - The U.S. House of Representatives approved a bill Wednesday to lend up to $14 billion to the three struggling U.S. automakers, General Motors Corp, Ford Motor Co and Chrysler LLC. The bailout proposal would extend taxpayer-funded loans or lines of credit to the Detroit Three and create a federal government post of "car czar" to oversee the industry.
Maybe they'll revive the Pontiac Aztec and the AMC Pacer ... | Introduced by Democrats, the bill is nearly identical to one pending in the Senate, where Republican opposition was making its chances for passage look uncertain.
Posted by: Steve White 2008-12-11 |