While the White House signaled it would be ready to step in and help the auto industry after the Senate failed to pass a $14 billion bailout package for the Big Three, President Bush told reporters, "We're not quite ready to announce that yet." And when asked he would use money from the TARP (the earlier $700 billion financial industry) bailout, he added, "I signaled that that's a possibility." Stock futures are, according to CNBC, "uncertain...amid a dismal manufacturing report and" auto bailout anxiety. Still, lawmakers believe there will be relief for Detroit; Sen. Bob Corker says the Treasury Dept. was talking to automakers over the weekend.
Bush "Not Quite Ready to Announce" Any Auto Industry Bailout
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