WBIW.com News - local

Brought to you by WBIW News and Network Indiana

Detroit Bailout Gets Third Lease On Life

Last updated on Friday, December 12, 2008

(WASHINGTON, DC) - It’s an old adage, “It’s always darkest before the dawn.” Well, since the senate shot down the Detroit loan package, now, the Department of the Treasury is prepared to take some of that Wall Street bailout money, and ship it to the city Antoine Laumet de La Mothe, sieur de Cadillac built.

The White House was opposed to using Wall Street bailout money to help GM and Chrysler, but now, our partners at Fox News report the Bush Administration is reconsidering that position, and may issue the order for Treasury Secretary Henry Paulson to issue the funds from his package.

At this point, the Department of the Treasury has right at $15 billion of the first half of their Wall Street package remaining, which they will not have to request congressional approval to disseminate.

1340 AM WBIW welcomes comments and suggestions by calling 812.277.1340 during normal business hours or by email at comments@wbiw.com

© Ad-Venture Media, Inc. All Rights Reserved.

Click here to go back to previous page