This Week: Auto Bailout in Focus
Markets in Asia closed higher today on the expectation that Washington -- this time, the White House -- would help out the auto industry and keep General Motors in business into next year. It remains unclear how exactly the administration will fund the auto industry bailout, which was resoundingly rejected by the Senate last week. But there are several options available. Check back here for updates on the status of the negotiations.
Japan's Nikkei rose 5.2 percent today and Hong Kong's Hang Seng rose almost 2 percent. In Europe, stocks were flat so far in trading. Crude oil is up to $48 a barrel.
--Sara Goo
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Sara Goo
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December 15, 2008; 7:35 AM ET
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Posted by: bruerr | December 15, 2008 11:38 AM | Report abuse
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Of the impression here that any bridge loan will be shallow and being such, will point to the next administration.
They have 15 billion left of the 1st installment of the Trouble Assets Relief Program (TARP) fund, but not expecting the White House or Treasury to use it all. What I mean is, Bush is not going to try to be a hero here and "save" the automakers. Its not likely to be a big splashing headline number. Just enough to get them by until next month.
Anybody else want to support this notion with a number?