Bush’s team avoids shoes, plans emergency aid for auto industry

While President George W. Bush was out dodging shoes in Iraq, (making moves like Keanu Reeves in the Matrix) his administration stayed back to work with automakers on a possible deal for emergency loans that will help prevent the bankruptcy of GM and Chrysler.

According to Senator Bob Croker, Republican-Tennessee, the Treasury Department is currently going over the automaker’s balance sheets. According to Automotive News, Senator Carl Levin, Democrat-Michigan, said yesterday that administration action is “very likely.”

The White House said Friday that it is considering other options after Senate failed to get 60 votes to pass the proposed $14 billion auto bailout. It said that it may consider using money from the $700 billion approved in October for the financial institutions.