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Obama will get tough with automakers, say GM, Chrysler submitted unacceptable restructuring plans to receive more bailout money. Expected to give GM financing for 60 days to restructure; Chrysler up to $6 billion, 30 days to complete alliance with Fiat. Will make the remarks from the Grand Foyer of the White House at 11:00 am ET. View parts [...]
Clinton to the Hague
The SecState is en route to the Netherlands Monday for an international conference on Afghanistan. Will be her first contact with Iran, but U.S. officials say she did not plan "substantive" talks with the country on the sidelines.
WALL STREET HEADS SOUTH
The Dow drops more than 250 points as Obama prepares to unveil his auto rescue plan. Overseas markets sank as well. GM fell 21% in Germany.
Granholm: Wagoner "Clearly Is a Sacrificial Lamb"
The Michigan Gov. backs the GM chief after he is forced out by the Obama administration Sunday night. The Democrat tells NBC's "Today" he had worked for the company for more than 30 years and was trying to turn it around. Click above to watch. Plus: Read Wagoner's Monday statement to GM employees here. [...]
Back to the Hill
Obama will head to the House side this time to build support for his budget from rank-and-file Democrats. Will meet with the House Democratic Caucus at 5:30 pm ET. Plus: WashPost's five things you need to know to follow the action.
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The Other U.S. Auto CEO Speaks
Ford CEO Alan Mullaly explains to TIME why he isn't getting a bailout.
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