Paulson: Rescue package not for automakers
3:30 PM Wed, Nov 12, 2008 | Permalink
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WASHINGTON -- Treasury Secretary Henry Paulson called autos a "critical industry" Wednesday but said a $700 billion financial rescue program wasn't designed for them. The White House was noncommital, but said it was open to new ideas, according to The Associated Press. Asked about Democratic a congressional leadership plan to rush financial aid to the industry, Paulson cautioned that "any solution has got to be leading to long-term viability" for auto companies. He said Congress could try to make funding more available to the auto industry as part of a $25 billion loan program approved in September to develop fuel-efficient vehicles. 
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