Government Won’t Extend $700 Billion Bailout Plan to U.S. “Big Three”
Nov 4th, 2008 | By William Patalon III | Category: Financial NewsThe U.S. Treasury Department has rejected General Motors Corp.’s (GM) request of $10 billion in assistance for its potential merger with Chrysler LLC after the Bush Administration decided it didn’t want to broaden its $700 billion financial rescue program to include industrial companies - or to play a role in a GM-Chrysler merger that could cost the U.S. economy tens of thousands of jobs, The New York Times reported yesterday (Monday).