Executives from Detroit’s “Big Three” auto companies – General Motors Corp. (GM), Ford Motor Co. (F), and Chrysler LLC – yesterday (Tuesday) joined Congressional Democrats on Capitol Hill to make the case for an industry-wide bailout that could spare their troubled companies from totally collapsing. Detroit’s bigwigs have been met with considerable resistance so far, but will continue to make their case today and into the New Year.

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The U.S. government is looking for ways to facilitate a merger between General Motors Corp. (GM) and Chrysler LLC, in the hopes of keeping the once vibrant industry afloat during a time of crisis. But Uncle Sam’s credit card is close to maxed out and a bailout for the auto industry could open the door for other troubled industries to come calling.

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