WASHINGTON - The Minister of Finance Henry Paulson said the U.S. Congress will be issued to the bailout fund of USD350 billion. In addition, it also said that loans to the government giving industry automotive will also prevent disruption to the U.S. economy overall. As quoted from cnbc.com, Sunday (21/12/2008), it is carried out after the announcement from the White House, which will provide loans up to USD17, 4 billion for General Motors, Chrysler and Ford Motor. Paulson said that in the writen information fund the first phase of USD350 billion will be used for Troubled Asset Relief Program (TRAP) effectively. "This very clearly, however, Congress needs to stabilize the TRAP program. I will discuss the process with Congress leaders and the president elected to the transition to the future," said Paulson. Action to be faced Paulson is ready to be gazed in the use of these funds will be used to finance the industry automotive, because the fund is to stabilize the financial institutions. "Action Congress is absent, other authorities make exist in preventing the bankruptcy of a more disorderly companies automotive it," he added. In addition, Paulson also said that the Bush action in GM, Ford and Chrysler resturcturing more importance to the long-term survival with protecting the taxpayer.
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