CNBC: Auto bailout could come Wednesday - Triangle Business Journal:

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Funds for a roughly $15 billiomn bailout would likely come fromthe government’s Trouble d Assets Relief Program, a $700 billion bailou that was originally meant for banks. Lawmakers includinh House Speaker Nancy Pelosii andDemocratic Sen. Carl Levin of Michiga n have said they expect auto bailouf funds to come fromthe TARP, CNBC said Using bank bailout money for the Big Threre U.S. automakers – , and – is Plan B for the federalo government. Plan A, a separate program of loans to the car was rejected in the Senate last week despites being backed by the White House andcongressional Democrats.
That White House-backee plan had included provisions meant to ensurwe that the automakers reorganize their operationsa to becomemore sustainable. According to CNBC says, any use of TARP monet for car makers also woulxd come withstringent provisions. Officialsa at General Motors have said the company mighyt need to file for Chapter 11 reorganization by the end of the year withoufgovernment assistance, and Chrysler officials say the company coule travel the same route in earlyg 2009. Ford has said that it can survive withoutf thebridge loans. But company officials worry that if GM and Chryslee are forced to seek Chapter11 protection, it coule put a strain on shared partw suppliers.
According to the Economic Policg Institute, North Carolina if General Motordsshut down.