Treasury says TARP should be used only for financial industry

12/12/2008 | Reuters

After the Senate failed to pass a rescue for the auto industry, calls have mounted for the Treasury Department to use its Troubled Asset Relief Program to help the automakers. Treasury officials, however, say that TARP funds are best used to help stabilize the financial sector. Lawmakers, aides and others on Capitol Hill say the Bush administration may not have another option.

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