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Viability key to any aid to auto cos.: Paulson
By:Haligonian
Date: Wednesday, 12 November 2008, 12:52 pm

Long-term viability key to any aid to auto cos.: Paulson (F, GM) (by Greg Robb)

WASHINGTON (MarketWatch) -- Long-term viability is the key to any government assistance for the auto industry, Treasury Secretary Henry Paulson said Wednesday. Paulson said the auto makers were critical to the U.S. economy. "We need a solution, but the solution has got to be one that leads to viability," Paulson said. But funds for auto companies should not come out of the $700 billion rescue plan for financial markets, he said. Congress can modify other legislation to provide funds to the industry, he said.