Perino also said that any new legislative effort to help the big carmakers should require that those manufacturers are viable companies, willing to restructure themselves for the long term.

Dana Perino, White House Spokesperson, said, "we want them to succeed and that's why we've provided a bipartisan way to get there. There is not going to be a path for them to be able to open up the TARP funds. There are not the votes in the Senate to be able to do that.

Perino also said that any new legislative effort to help the big carmakers should require that those manufacturers are viable companies, willing to restructure themselves for the long term.

Meanwhile, Citigroup is shedding approximately 53-thousand more employees in the coming quarters as the banking giant struggles to steady itself after suffering massive losses from deteriorating debt.

The New York-based bank also plans to trim expenses by 19 percent in 2009 from third-quarter levels, to 50 billion US dollars.

About half of the expected work force reductions will come from business sales...And the other half will come from layoffs and attrition.

(CCTV November 18, 2008)