Bush wants $25B in loans released to carmakers - ModernCamaro.com - 5th Generation Camaro Enthusiasts
5th Generation Camaro News & General Discussion News Articles & General Discussion about the 5th Generation Camaro.

 
LinkBack Thread Tools
post #1 of 1 Old 11-14-2008, 05:45 PM Thread Starter
Newbie
 
Evotion's Avatar
 
Join Date: Nov 2008
Posts: 3
 
Bush wants $25B in loans released to carmakers

Was going to post this in another thread but didn't want it getting lost in the negativity.



By JULIE HIRSCHFELD DAVIS, Associated Press Writer Julie Hirschfeld Davis, Associated Press Writer 52 mins ago

WASHINGTON The White House on Friday threw its support behind a plan to speed release of $25 billion in existing loans to the Big Three automakers but rejected a Democratic proposal to use money from a financial bailout to help the troubled industry.

The $700 billion financial rescue package was never intended to help automakers and shouldn't be now, White House spokeswoman Dana Perino told The Associated Press. But since Democratic leaders in Congress are pressing forward with a proposal to carve out a piece of its for the auto industry, she said the White House has decided to pursue a different approach: accelerating the availability of federal loans Congress first approved in September.

Those loans were approved to help automakers build more fuel-efficient vehicles and become more competitive companies in the global marketplace. The administration now supports allowing the loans to be released more quickly than the original legislation prescribed and to be used for more urgent purposes as the companies struggle to stay afloat.

"Democrats are choosing a path that would only lead to partisan gridlock," she said. "We are now actively calling on Congress to amend the loan program."

Ordered: 2SS/RS Cyber Gray w/ Black stripes - Inferno Orange Interior (Eye poppin) - Hurst short throw shifter
69 Camaro Coupe - Under re-construction
2001 Silverado Z-71
2006 Evo IX Special Edition - Selling -
Evotion is offline  
Sponsored Links
Advertisement
 
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the ModernCamaro.com - 5th Generation Camaro Enthusiasts forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome