Dec 12

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The White House said Friday it was considering tapping the $700 billion financial industry bailout fund to prevent the collapse of the ailing U.S. auto giants after the Senate failed to reach a compromise on a rescue package for Detroit's…

The three biggest U.S. automakers -- Ford Motor Co., General Motors Corp., and Chrysler LLC -- submitted plans to Congress on Tuesday, in hopes of getting a line of credit from the government to keep their companies in business.