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And now $25 billion to Detroit
Mike Allen writes in with a few particulars on a story that's big news in its own right, but has been overshadowed by the Wall Street bailout: Banking wasn’t the only industry to get a hand from Congress this weekend.  The Senate on Saturday sent President Bush a spending bill that ...
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ThinkFast: September 29, 2008
Think Progress — ... On Saturday, the Senate voted to give $25 billion in loan guarantees to the auto industry in Detroit, the largest federal aid package ever offered to the industry. The money “amounts to a subsidy for such products as hybrid vehicles and plug-in electric cars.” ...