Financial Times FT.com

Bush resists $25bn aid for US carmakers

By James Politi in Washington and Bernard Simon in Toronto

Published: November 11 2008 20:08 | Last updated: November 11 2008 20:08

Hopes of quickly securing $25bn in emergency government support for troubled US carmakers have been caught in a stand-off between the outgoing Bush administration and, on the other side, congressional Democrats and Barack Obama, the president-elect.

As bad news about the health of the big three carmakers in Detroit multiplied during the past 10 days, the White House came under pressure to justify its decision to rescue swathes of the financial services industry while ignoring the motor manufacturers.

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