The lame duck Republican senate, a handful of rogue Democrats, and the intractable United Auto Workers have conspired to kill the $14 billion bailout plan for the auto industry.
If Bush doesn’t sober up and make this bridge loan happen, the global economy is in for a world of more hurt. Fuck Chrysler. If GM fails it’s Lehman take two. Consumer confidence is going to pancake and this world economic crisis is going to take on a whole new level of magnitude.
Bernanke: Show GM the money.