
[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2008/images/12/15/art.bush1.gi.jpg caption="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."
CNN: Aide: Obama to hold first national security meeting
President-elect Barack Obama will hold the first meeting of his national security team on Monday in Chicago, according to a transition aide for the incoming administration.
AP: Illinois lawmakers to focus on ousting governor
Republicans and Democrats alike are calling for Illinois lawmakers to begin impeachment proceedings against Gov. Rod Blagojevich, saying the step is necessary to restore public confidence in state government....Legislators were to meet Monday afternoon for the first time since Blagojevich was arrested last week on charges he shook down businesses seeking state deals and tried to profit from his power to choose a replacement for President-elect Barack Obama's vacant Senate seat. The session's focus was supposed to be about considering a special election, but impeachment is likely to be the chief topic of conversation.
Chicago Sun-Times: Tapes have potential witnesses speaking out
When it comes to coming clean, nothing is as motivating as a wiretap. Last week's revelation that Gov. Blagojevich was secretly recorded in his campaign office and on his home phone has prompted more than a dozen potential witnesses in recent days to come forward. They've been calling investigators and defense lawyers to talk about deals or discussions they've had with Blagojevich.
NY Times: 2 Sides of a Troubled Governor, Sinking Deeper
Gov. Rod R. Blagojevich is a polished speaker who can win over elderly women at luncheons in southern Illinois with his earnest attention and eloquently recite historical anecdotes from the lives of the leaders he says he most admires — Theodore Roosevelt, Abraham Lincoln, Robert F. Kennedy, Alexander Hamilton, Ronald Reagan.
CNN: McCain: I can't promise to support Palin for president
Sen. John McCain said Sunday he would not necessarily support his former running mate if she chose to run for president. Speaking to ABC's "This Week," McCain was asked whether Alaska Gov. Sarah Palin could count on his support.
Washington Post: Executive Pay Limits May Prove Toothless
Congress wanted to guarantee that the $700 billion financial bailout would limit the eye-popping pay of Wall Street executives, so lawmakers included a mechanism for reviewing executive compensation and penalizing firms that break the rules. But at the last minute, the Bush administration insisted on a one-sentence change to the provision, congressional aides said.


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