President Bush unveiled a $13.4 billion emergency low-interest loan package for General Motors and Chrysler on Friday to keep the automakers running through March. In February, an additional $4 billion will be available. The funds, which come from the Troubled Asset Relief Program, are tied to companies proving their viability. "These are not ordinary circumstances, in the midst of a financial crisis and a recession allowing the US auto industry to collapse is not a responsible action," Bush said Friday morning. The loans will require the companies to restructure and get concessions from creditors, unions and suppliers. Early reports said Obama agreed with the plan.
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