Auto bailout dies in the Senate

Late last night in Washington DC, the Senate voted to see if it would vote for the Big Three bailout. They should have known it was doomed if they needed to vote first to see if it would even come to a vote.

Confusing, I know. Earlier in the evening, it seemed as though talks were getting somewhere, and perhaps the automakers would get their loans. But shortly after 11 pm Eastern Time, the vote failed, and the bill died. It seems as though there are just too many cooks stirring the pot, and they can’t agree on who gets what.

But wait, here comes the White House to perform mouth to mouth resuscitation. Even though the bill failed, the current administration is not keen to have the US auto industry fail on their watch. Therefore, the president is looking to tap into the $700 billion set aside for Wall Street to fund the Big Three. Even though this is a contradiction to earlier statements by the White House, no one in the current administration wants the collapse of the US automakers to be the final cherry on top of what has been a pretty dismal presidency.

And so, GM, Ford, and Chrysler are on life support, and in critical condition. But Doctor Bush is readying for emergency surgery. To be continued.