Eye on the Economy - The Latest on Auto Bailouts and More Companies Asking for Taxpayer Money

WASHINGTON (AP) - The White House is throwing support behind a plan to speed release of $25 billion in loans to troubled
automakers but is rejecting a Democratic proposal to use money from a financial bailout for car companies.

Spokeswoman Dana Perino says the Democratic proposal would lead to partisan gridlock because the $700 billion rescue package was
never intended to help automakers and shouldn't be now. For that reason, she told The Associated Press that the White House is now
actively asking Congress to accelerate loans it first approved in September. Those loans were meant to help automakers build more
fuel-efficient vehicles. The administration now supports allowing it to be used for more urgent purposes as the companies struggle to
stay afloat.

Fidelity Investments will eliminate 1,700 jobs early next year in a second round of cuts at the nation's largest
mutual fund company.

Boston-based Fidelity said last week that it would eliminate nearly 1,300 jobs this month in the first round, with plans to make
further unspecified cuts early next year. On Friday, Fidelity spokeswoman Anne Crowley said the second round would involve 1,700 jobs.

Four insurance companies are asking the government to allow them to buy thrifts so they can qualify to receive federal money under the financial rescue program.

Hartford Financial Services Group, Genworth Financial, Lincoln National Corp. and Aegon NV, a Dutch company that owns U.S. insurer
Transamerica, each asked the Office of Thrift Supervision for permission to acquire an existing thrift. The deadline for filing applications was today. The agency says it received submissions from those four firms. Insurers that own thrifts, which are federally regulated, are
eligible to apply for a piece of the $250 billion the government is spending to buy shares in banks and other financial companies.