Getting Close to Another Bailout

Posted on - By

Categories: News, SMH, Uncategorized

Posted by Bossip Staff

detroit

It looks like the prayers are close to being answered concerning the auto bailout:

The House of Representatives handily passed a bill Wednesday night that would provide up to $14 billion in bridge loans to automakers, but Republican opposition cast doubt about the bill’s fate in the Senate later this week.
The U.S. House approved an auto bailout package Wednesday, but it could hit a roadblock in the Senate.

The U.S. House approved an auto bailout package Wednesday, but it could hit a roadblock in the Senate.

The stopgap measure, approved by a vote of 237 to 170, is designed to let the new Congress and incoming administration of President-elect Barack Obama craft a long-term solution. It would also give the companies time to negotiate with creditors and the United Auto Workers union on additional concessions needed to stem their ongoing losses.

Hmmm…this could get interesting. Who thinks the Senate is going to stop this bill in its tracks? Hell, who thinks the Senate should stop this bill in its tracks, for that matter? Don’t be shy.

Source

More from MommyNoire

More from StyleBlazer & MadameNoire

blog comments powered by Disqus
No thanks