Obama Administration gives GM and Chrysler a short-term lifeline

The Obama administration offered General Motors and Chrysler LLC a huge carrot Monday – the possibility of billions of dollars more in loans if they can win additional concessions from creditors and unions.

It also gave GM and Chrysler a break by not recalling the $13.4 billion already loaned to GM (GM, Fortune 500) and the $4 billion already loaned to Chrysler.
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