US carmakers call for bailout
Updated on 19 November 2008
The heads of the three biggest car makers in the US appear before congress to plead for a huge bailout to save them from bankruptcy.
Ford, GM and Chrysler say they need the $25bn to bridge the "financial chasm" caused by the credit crunch, which has seen sales fall by over 40 per cent.
The companies say they need the money now, but congress is sceptical a bailout will do anything more than delay an inevitable collapse.
Many industry watchers have even suggested bankruptcy would be the best option for America's car manufacturers.
