UPDATE 1-US CEO group backs capital infusions for automakers

Newswire

WASHINGTON, Oct 30 (Reuters) - A lobby group for the top U.S. chief executives said on Thursday the U.S. Treasury Department should use some of the funds from the $700 billion bailout legislation to provide direct capital injections to automakers and their finance companies. The Business Roundtable, an association of about 160 chief executives, also said the Federal Reserve and Treasury should expand the government purchase of commercial paper to all investment-grade instruments, rather ...

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