Auto Bailout Fail

Business | Fri, Dec 12, 2008 at 9:19:14 am PST

No $14 billion bailout for the auto industry.

Maybe the CEOs could take a salary cut and pay for it out of that.

UPDATE at 12/12/08 9:23:41 am:

The White House does an end run around the Senate: White House Bails Out Automakers: Everybody Wins, Save Taxpayers.

The White House stepped into the breach early Friday, expressing support for Treasury to use TARP funds to bailout the U.S. automakers.

“Because Congress failed to act, we will stand ready to prevent an imminent failure until Congress reconvenes and acts to address the long-term viability of the industry,” said Treasury spokeswoman Brookly McLaughlin.