by Calculated Risk on 12/05/2008 09:49:00 PM
Friday, December 05, 2008
Innovative Thinking from Detroit?
Eric had to be inspired by the auto executives ...
Click on cartoon for larger image in new window. Cartoon from Eric G. Lewis |
... Democratic Congressional leaders said on Friday that they were ready to provide a rescue plan for American automakers, and that they expected to vote on the legislation in a special session next week.
Seeking to end a weeks-long stalemate between the Bush administration and House Speaker Nancy Pelosi, senior aides said that the money would most likely come from $25 billion in federally subsidized loans intended for developing advanced fuel-efficient cars.
By breaking that impasse, the lawmakers could also clear the way for the Treasury secretary, Henry M. Paulson Jr., to request the remaining $350 billion of the financial industry bailout fund.