Now Bush Is Open To Using TARP For Autos


Ron Gettelfinger may have played it smart by rejecting Sen. Bob Corker’s wage concessions. If he knew that the White House would blink and intervene directly, then he didn’t have much to lose by standing firm. And now, suddenly, after being opposed to using TARP funds to rescue the automakers, it’s all of the sudden on the table:

MarketWatch: The Bush administration will consider its options to save the auto industry, including using the $700 billion funds under the Troubled Asset Relief Program, White House spokeswoman Dana Perino said Friday. “A precipitous collapse of this industry would have a severe impact on our economy, and it would be irresponsible to further weaken and destabilize our economy at this time,” she said.

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