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Thread: Will US watch its auto industry die?
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[quote=JIMMYB,345591]14 billion bailout to the auto industry in US collapsed in the Senate. Before, the House had agreed to this bailout plan. The reason is that the UAW refused to accept Republican Senators demands for wage and benefit cuts. Without 14 billion bailout, the Bush Administration needs to take out some money from the 700 billion rescue package approved for U.S. banks. However, President Bush said no that possibility. GM says they will go bankrupt unless they receive the cash by the end of the month. Will US watch its auto industry die?[/quote]
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