US car giants beg Congress for lifeline

The three biggest US carmakers pleaded with Congress for a $25bn (€19.7bn) lifeline to save their once-proud companies from collapse, warning of broader peril for the American economy as well.

Despite the car giants’ pleas, the new rescue plan appeared stalled in Congress, opposed by Republicans and the Bush administration who do not want to dip into the Treasury Department’s $700bn (€554bn) financial bailout programme to come up with the $25bn.