Safe Mode: On
Aid prospects darken for desperate US carmakers

WASHINGTON – Prospects dimmed on Monday for the $25 billion bailout that U.S. automakers say they desperately need to get through a bleak and dangerous December.

Though all sides agree that Detroit's Big Three carmakers are in peril, battered by the economic meltdown that has choked their sales and frozen loans, the White House and congressional Democrats are headed for stalemate over the government money that might go toward helping them.

Behind the logjam is a troubling reality for the car companies: Bailout fatigue has set in at the White House and on Capitol Hill, where many in both parties have spent the past few weeks being berated by constituents for agreeing to the $700 billion Wall Street rescue.

The new debate comes as the financial situation for General Motors Corp., Ford Motor Co. and Chrysler LLC grows more precarious. GM has said it could run out of cash by year'


Added: Nov-17-2008 
By: Dat1111
Tags: Big 3, Bailout, prospects, Darken, GM, Ford, Chrysler, congress, money, financial meltdown, bankruptcy
Views: 9442 | Comments: 32 | Votes: 0 | Favorites: 0 | Shared: 0 | Updates: 0 | Times used in channels: 1
You need to be registered in order to add comments! Register HERE