Paulson Tells BLOOMBERG TV-TARP Money Not for Automakers

Paulson Tells BLOOMBERG TV-TARP Money Not for Automakers

NEW YORK, Nov. 13 /PRNewswire/ -- Today on BLOOMBERG TELEVISION(R), Treasury Secretary Henry Paulson told Bloomberg anchor Peter Cook that he urges Congress to come up with money for US automakers on the brink of bankruptcy outside of the allocated $700 billion Troubled Asset Relief Program money, saying the funds are not intended for manufacturers.

"The intent of the TARP was to deal with financial institutions and major systemic issues and getting lending going in capital institutions," Paulson told BLOOMBERG TELEVISION, referring to the Troubled Asset Relief Program. "Congress, I believe, should address the question of the auto industry."

The interview aired today at 3:40pm ET. The interview will replay tonight on the BLOOMBERG TELEVISION program 'Money & Politics' at 9PM ET.

This exclusive news and follow up reports are available to the public on BLOOMBERG TELEVISION and BLOOMBERG RADIO(R) services worldwide, as well as to users of the BLOOMBERG PROFESSIONAL(R) service. Clips from the interviews will be archived and available via the BLOOMBERG PROFESSIONAL service.

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Source: Bloomberg

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