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Bush To Announce Low Interest Loans For Automakers
“President Bush will make a statement on the rescue plan at 9 a.m. Friday. Under the plan, General Motors and Chrysler will be able to make it into the new year when President-elect Barack Obama takes the reins of power. According to ABC News, which first reported details of the plan, the loans come with strings attached. The automakers will need to restructure, getting tough concessions from creditors, suppliers, and the labor union.” [Link]