Financial Times FT.com

Setback in bill for Detroit carmakers

By Daniel Dombey in Washington

Published: December 10 2008 23:11 | Last updated: December 10 2008 23:11

The carmakers of Detroit received one of several unwelcome surprises when they perused the text of the legislation intended to keep them on life support.

The bill, which is still yet to be approved and is perhaps still far from its final form, authorises an emergency loan for $14bn (£9.4bn) – a full $1bn short of the $15bn Congressional Democrats and the White House have been negotiating for days.

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