2:30 p.m. Democrats delay vote on auto loan
POSTED: November 20, 2008
WASHINGTON (AP) _ Democratic leaders in Congress have put off a vote on bailing out the auto industry until next month, and want the top companies to present a plan showing the money will make them financially viable.
"The executives of the auto industry have not been able to convince the American people or the Congress that this bailout would be their last," Senate Majority Leader Harry Reid of Nevada said at a news conference.
House Speaker Nancy Pelosi said: "Until they show us the plan, we cannot show them the money."
The industry has been asking for $25 billion in loans to stay in business until spring.
Member Comments
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hulkhogan
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11-20-08 11:33 PM
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Whether it is a pay cut or new research it wont matter GM has a cancer and it only has months to live. The jobs banks and greed destroyed this company. Now everyone is in denial like i and many were at delphi, remember some of us lived this. I understand people need hope but in the end a huge amount of jobs will be lost and that is a special kind of hell. People will have to die(job wise) for the fortunate to live.
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XANADU440
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11-20-08 7:20 PM
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WHO CREATED THIS PROBLEM????
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zipcityboy
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11-20-08 6:37 PM
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And the Dems are supposed to be friends of labor! With friends like that who needs enemies? Thousands of jobs in the Valley alone hang in the balance, and these politicos do nothing to save them and millions more from economic terrorism. They should be without a job, fired for neglect, abuse, fraud, incompetence and insubordination to We, The People.
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TrumbullCoResident
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11-20-08 4:04 PM
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I think the AP article above says it ...."The industry has been asking for $25 billion in loans to stay in business until spring." So...what happens in the spring?
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