The American automakers in trouble will have to wait
December 14, 2008 5:22 p.m.
THE ASSOCIATED PRESS
The White House announced Sunday do not expect to make an announcement until at least Tuesday about a possible plan to prevent the collapse of the American auto industry in trouble.
Washington studied different scenarios to provide emergency assistance to General Motors and Chrysler. The two companies announced that without government support, they may lack funds. Officials from the White House have said not to expect the announcement of a rescue plan for the auto industry to be made on Sunday or Monday. Such a plan would likely benefit a GM and Chrysler. Ford has stated that it has sufficient funds to survive in 2009. However the manufacturer requested the Congress of the United States a line of credit in case of deterioration of its financial situation.
"I do not think they already know what they will do," says Republican Senator Bob Corker of Tennessee, after having spoken with the White House on Sunday. Last week, the Congress refused to approve an emergency loan of U.S. $ 14 billion to help the giants of the automobile.
Following this refusal, responsible for the administration of President George Bush says study various possibilities, including the use of part of the funds of the bailout of the financial community, U.S. $ 700 billion in order to grant loans to builders. The Senator Corker says officials Tresor American leaned on the financial results of companies. He added that "Chrysler and GM are on the verge of bankruptcy."
The Bush administration has several possibilities before her. This could include dipping into the $ 700 billion bailout of the financial sector to provide loans to builders.
It could also do nothing, leaving the door open to the possibility of a bankruptcy of a manufacturer or more. However, the Press Secretary White House, Dana Perino said Friday that a collapse of the auto industry would have "a serious impact on our economy" and it would be "irresponsible to destabilize the economy ".
