The fact that the Senate GOP is blocking the Big Three bailout is actually good news.
The new Congress taking place in early January will have enough Democrats in the Senate a filibuster won't be a problem. Due to the normal plant layoff at the holidays, we're talking just a week or two of plant production time being on the table anyway.
Second, an early January bailout could be delayed two more weeks, to send to President Obama, not President Bush. That means Obama names any "auto czar." It means the $25 mil "green car fund" isn't tapped for a bailout. It also means that ditching Big Three execs might get tied to similar standards to release Round Two of TARP money.
Third, the new Senate likely wouldn't water down the House bill to let the Big Three dodge stricter state-level fuel efficiency standards, etc., i.e., California's plan to regulate CO2.
Sorry, folks.
To me, GM/Chrysler can rot in hell first.
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