The union, I mean the auto companies, must be saved. This failure would seriously disrupt the Dem's racket. Who wants that? Next thing you know they would have to get money from voters. Get real!
Full-Throttle Push for Auto Bailout | Page 1 of 2 | Automakers | Financial Articles & Investments News | TheStreet.com
WASHINGTON (AP) -- The auto industry and business groups have mounted a lobbying onslaught to thwart GOP opposition to a Senate vote next week on Democrats' plan for a $25 billion emergency loan plan for U.S. carmakers.
Senior Democrats are drafting legislation that would carve out part of the $700 billion Wall Street bailout for loans to the three major U.S. auto companies in exchange for a government ownership stake in the companies.
They hope to push the measure through during a postelection session of Congress that begins Monday. General Motors(GM Quote - Cramer on GM - Stock Picks), Ford(F Quote - Cramer on F - Stock Picks), and Chrysler are lobbying feverishly for Congress to approve the aid, citing an economic downturn that has choked off sales and frozen credit.
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