$15B auto bailout legislation could be passed this week

Dec 10, 2008 | 02:01 PM | Diana Schwaeble

Prospects for a bailout of the Detroit-area Big Three automakers appeared to brighten Wednesday, with reports that the White House and majority Democrats had agreed to $15 billion in emergency loans that would include checks and balances.

While Senate Majority Leader Harry Reid (D., Nev.) stated earlier in the week that he expected the plan to go through, there remains some concern that Republicans might try to block it.

Part of the agreement includes the appointment of a "car czar" who would be responsible for keeping tabs on the automakers, helping with the restructuring process and making sure their plans are viable.....

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