Monday, December 08, 2008

U.S. Taxpayers will Bail Out Detroit

Whether we like it or not.

WASHINGTON — An agreement between the White House and Congressional Democrats over the shape of a rescue plan for the American auto industry appears to be imminent, President Bush’s chief spokeswoman and a Congressional leader said Monday.

“I think it’s very likely,” the spokeswoman, Dana Perino, said when she was asked whether an agreement might be reached before the end of the day. “We’ve made a lot of progress on Friday.”

Representative Barney Frank, the Massachusetts Democrat who heads the House Financial Services Committee, offered a similar prediction in an interview on CNBC. “Yes,” Mr. Frank said, “I think there should be agreement by the end of today.”

NY Times

Fascinating debate happening over at the Apollo Alliance on the bailout.

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