Oh Well
Posted on December 12th, 2008 by Tariq Nelson
The Bailout failed in the Senate 52-35 (with 60 needed)
An eleventh-hour effort to salvage a proposed $14 billion rescue plan for the auto industry collapsed late last night as Republicans and Democrats failed to agree on the timing of deep wage cuts for union workers, killing the legislative plan and threatening America’s carmakers with bankruptcy.
But Bob Corker (R-TN) finally made a little name for himself (other than beating Harold Ford, Jr) and may be able to save it with his amendment.
Keep in mind that only GM and Chrysler were looking for the loans and not Ford (for now).
Well, now to see if Armageddon comes. The world markets react:
Filed under: Politics
They are talking about allocating a portion of the 700 billion bailout of the financial markets to the auto industry.
Maybe I could be wrong, but I hope that this decision doesn’t cost us. The common man always have to pay for their big man’s sins.