U.S. stock futures were up, thanks to the belief lawmakers will approve the $15 billion bailout plan for the Big Three automakers. The vote will be held today; the deal reportedly includes bridge loans (from money originally for the Energy Dept..) and having a "Car Czar" who will oversee negotiation of a restructuring by 3/31/09. Sen. Carl Levin (D-Michigan) said, "Bipartisan hard work has paid off. I understand an agreement has been reached." However, Donald Trump told CNBC the U.S. should save the auto industry but put them through Chapter 11 bankruptcy.
Published Dec 10, 2008
Modified Dec 10, 2008
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