Flexible Subscription Options - Now Available - Learn More
eEdition Subscribers - Register your account.
Summer Guide 2012 - Your complete resource for what to do, what to see, and where to go!
1

Cars Blog

Paulson: Rescue package not for automakers

Comments  | Recommend
November 12, 2008 3:30 pm
By Peter C. T. Elsworth

WASHINGTON -- Treasury Secretary Henry Paulson called autos a "critical industry" Wednesday but said a $700 billion financial rescue program wasn't designed for them. The White House was noncommital, but said it was open to new ideas, according to The Associated Press.

Asked about Democratic a congressional leadership plan to rush financial aid to the industry, Paulson cautioned that "any solution has got to be leading to long-term viability" for auto companies.

He said Congress could try to make funding more available to the auto industry as part of a $25 billion loan program approved in September to develop fuel-efficient vehicles.


Share Your Thoughts
Guidelines: We welcome your thoughts, but for the sake of all readers, please refrain from the use of obscenities, personal attacks or racial slurs. All comments are subject to our terms of service and may be removed. Repeat offenders may lose commenting privileges.
Providence Journal - Subscribe Now & Get Our Latest Offer
MOST COMMENTED