Breaking News Alert The New York Times Friday, December 19, 2008 -- 9:09 AM ET -----
Bush Announces Deal to Stave Off Bankruptcy By Automakers
President Bush announced $13.4 billion in emergency loans to prevent the collapse of General Motors and Chrysler, and another $4 billion available for the hobbled automakers in February, with the entire bailout conditioned on the companies undertaking sweeping reorganization plans to show that they can return to profitability quickly.