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December 9, 2008

Washington Could Take Stake in Auto Firms
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Congressional Democrats and the White House are close to settling on a
plan to rush $15 billion in emergency loans to the Detroit automakers.
Under the proposal, the Treasury Department would cut checks for the car
companies as soon as next week. The plan also calls for President Bush
to name a “car czar” to manage a vast restructuring of the firms and
restore them to profitability. The Detroit Free Press reports the deal
could grant Washington a majority stake in either General Motors or
Chrysler.



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