SocraticGadfly: Detroit on the clock – 12 days and ticking

November 20, 2008

Detroit on the clock – 12 days and ticking

That’s how long Congressional Democrats gave the formerly-Big Three to come back with a real bailout plan, or they’re not likely to get a dime from Congress.

And, the political gamesmanship has already started:
Speaker Nancy Pelosi and Senate Majority Leader Reid called their news conference to pre-empt a gathering of senators from the states with the biggest stake in the auto industry who said that they had forged a bipartisan compromise to speed up access to $25 billion in loans for the automakers that have already been approved by Congress and signed by President Bush.

That said, UAW President Ron Gettelfinger is smart to focus on:
1. Jobs, not the formerly-Big Three
2. Tax breaks some southern states handed out to attract non-union, non-American car company plants. Richard Shelby, for example, will be harder pressed to oppose any bailout at all.

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