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Posted: 2:53 p.m. Thursday, Nov. 20, 2008
By Jamie Dupree
After watching chances for a Big Three Bailout almost go down the tubes this week, Democratic leaders in Congress are giving GM, Chrysler and Ford another chance to ask the feds for a financial lifeline.
"Until they show us a plan, we cannot show them the money," said Speaker Nancy Pelosi, as Democrats said the Big Three need to submit a plan that shows how they will use federal dollars and how they can get back to profitability.
"What happened this week in the Congress has not been good for the auto industry," said Senate Majority Leader Harry Reid, who said nothing was going to pass this week.
"We do not have the votes."
But Democrats say if the Big Three fine tunes their request, then maybe in December, the lame duck Congress can meet again and approve an aid package.
It was clear that the two days of testimony this week by the auto executives did not help GM, Chrysler and Ford at all.
"These people flying in their personal corporate jets doesn't send a good message," said Sen. Reid.
"We want them to get their act together."
So lawmakers will leave town today without doing anything on the auto industry, but there's still a chance something will happen before Christmas.
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