December 15th, 2008
09:35 AM ET
3 years ago

Bush doesn't set auto bailout timeline

President Bush may use money from the Treasury program in hopes of avoiding the bankruptcy of U.S. automakers.
President Bush may use money from the Treasury program in hopes of avoiding the bankruptcy of U.S. automakers.

NEW YORK (CNNMoney.com) - President Bush said Monday he might use money from the Treasury program to aid financial services companies in order to avoid the bankruptcy of U.S. automakers, but he would not provide a timeline.

In an interview with reporters on Air Force One en route to Afghanistan, Bush said that "an abrupt bankruptcy for the autos could be devastating for the economy."

When asked if he would use any of the $700 billion from Treasury's Troubled Asset Recovery Program (TARP) that has been earmarked for Wall Street to make a loan to automakers, he replied, "I signaled that that's a possibility."

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Filed under: President Bush
soundoff (127 Responses)
  1. HouseDiva

    well folks...the shoe has hit the flag ;)

    December 15, 2008 02:33 pm at 2:33 pm |
  2. chuck

    BUSH COULD USE ALL THE BILLIONS HE MADE WITH CHENEY ON CN IRAQ CONTRACTS FOR THE BAILOUT.

    December 15, 2008 02:37 pm at 2:37 pm |
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