Obama Gets Plenty of Advice on Detroit Bailout

By Melanie Trottman President-elect Barack Obama is being deluged with advice on how to respond to requests for aid from troubled U.S. auto makers, even before he takes over the White House. Guests appearing on Sunday talk shows had plenty to say about how Mr. Obama should respond to requests by Detroit’s Big Three auto makers for $25 billion in new loans on top of $25 billion in already approved loans. Congressional Democrats plan to unveil a bill on Monday that would give the car companies access to the $700 billion Troubled Asset Relief Program that was set up by the government in October to help ailing banks and other financial institutions. New York Times columnist Tom Friedman , appearing on NBC’s “Meet the Press,” suggested Mr. Obama should reject the car makers’ request in the absence of a clear-cut plan for the industry’s recovery. “If I thought with $25 billion we could save this industry, I’d be for it,” he said. “But I see no plan right now, no reason to suggest that these people ... (link)