Big Three bailout just collapsed !!!!!!

Discussion in 'Wall St. News' started by NY_HOOD, Dec 11, 2008.

  1. WASHINGTON – A $14 billion emergency bailout for U.S. automakers collapsed in the Senate Thursday night after the United Auto Workers refused to accede to Republican demands for swift wage cuts.

    Senate Majority Leader Harry Reid said he was "terribly disappointed" about the demise of an emerging bipartisan deal to rescue Detroit's Big Three.
     
  2. hughb

    hughb

    Remember we went through this with the first bailout. Republicans were posturing, but they caved in in the end and voted for it anyway. I suspect they are doing it now.
     
  3. clacy

    clacy

    That could very well be what happens. Although I suspect that the UAW might be the one to crack first.

    We will see.
     
  4. 151

    151

    If GM said they couldnt make it to new years the house has left DC how can they possible get a bail out?

    Or is it that GM will be able to make it past new years?