US [updated 15:45GMT]: White House signals auto loan turnaround
Author: just-auto.com editorial team | 12 December 2008
The Bush White House on Friday morning [EST] signalled a turnaround and said it would now consider using some of the US$700bn bailout earmarked for the financial services sector after the Senate on Thursday night rejected a Democrat bill to advance US$14bn in emergency loans to Detroit's Big Three automakers. Meanwhile, the US Treasury said it would prevent any automaker from collapsing.
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