Obama weighing auto aid options

CHICAGO, Dec. 5 (UPI) -- President-elect Barack Obama may have kept a low profile publicly on a bailout for U.S. automakers but he's been active behind the scenes, his advisers said.

Obama and his advisers are reviewing options for helping Detroit automobile beyond any possible congressional action before he takes office next month, CNN reported Friday.

Chief executive officers from Ford Motor Co., General Motors Corp. and Chrysler LLC were on Capitol Hill for two days of testimony on their request for $34 billion in loans, appearing before the House of Representatives Financial Services Committee Friday and the Senate Banking Committee Thursday.

Bailout scenarios include a possible short-term loan that would serve as a bridge until lawmakers can reach legislation on a long-term plan when the new Congress convenes next year. Other lawmakers have suggested that bankruptcy could be a good thing for the automakers.

"We can't allow the auto industry simply to vanish," Obama said last week.

Capitol Hill sources told CNN discussions about the federal government providing assistance to the automakers have taken place on many levels, including talks between Obama and congressional leaders.