The White House could hold the solution to save Detroit's 3 major automakers

The failed vote in the US Senate on the economic aid that took place the day before yesterday put the 3 US carmakers in serious trouble, so they rushed to look for immediate solutions to prevent any of them from declaring bankruptcy and to be able to end the year with some money.

Yesterday we told you about the rescue plan proposed by Republican senator Bob Corker, which seemed to have some support but still had the problem of the agreement with the labour unions over the issue of salary cuts. Now the White House has thrown its own lifeline by announcing that it would be willing to use 15 billion dollars of the 350,000 million that were approved to help financial institutions.

Given the consequences that the collapse of any of the groups would have for the US economy, which cannot afford many more setbacks, and for many jobs, this rescue is being seriously considered by the White House so that at least the manufacturers have enough to hold on until Obama becomes the president-elect and a new plan that can get through the votes can be developed.

In fact, this new plan could not be drawn up until March of next year, and the groups Chrysler and General Motors in particular need money to help them survive until then, since their reserves are not enough for that long. For this reason, the current acting president Bush and his team will negotiate this weekend with Cerberus, the owner of Chrysler, and General Motors to see whether they can reach an agreement before the end of next week.

Let us hope this provisional rescue goes ahead and that we do not see any of the big Detroit companies disappear. We will keep you informed.

Via | Autoblog en Español