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A Horse With No Name

Interesting Detroit Free Pres article about Obama and bailout

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I think he's correct in saying it's a problem for this Congress and this President. He's resigned as a Senator so he has no power to do anything until his inaugeration. It would seem that much of the media is pessimistic about emergency loans happening before then. I feel pretty confident that GM will file chapter 11 before Christmas and possibly before thanksgiving. Being in bankruptcy would give them additional leverage in dealing with Congress in early December.

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I think he really wants to help the industry. (What could be more "main street")

So I think GM and Co. will try to hold out until the inauguration.

The only question is; can they?

It's too bad that Congress was basically too lazy to hear Detroit out.

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