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.