Friday, Dec 12, 2008
Horses make a comeback!
REUTERS: Auto bailout fails
"GM has probably got until January and I would suspect the next step would be that GM will provide a date and say that at this date we will file," Merkle said.
The White House called congressional inaction a breakdown and said it would evaluate its options.
"It has now fallen to the president to take action," said Sen. Carl Levin, a Michigan Democrat who has spearheaded efforts for a month to get help for Detroit.
Bush should "move now," said Republican Sen. George Voinovich of Ohio, adding, "The dominoes are already falling" throughout the United States."
Reid and House Speaker Nancy Pelosi called on Bush to immediately explore short-term financial help, including tapping a $700 billion fund created in October for the Treasury Department to assist the financial services industy
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