Apparently there is now a plan to bail out the american auto industry... Senior Democrats are proposing legislation to give bail out money to the auto industry in exchange for part ownership in the companies by the government... The legislation is being met with resistance from congressional republicans, including president Bush. It sounds like there is hope that this may get passed once Obama is sworn in though... Read more about it here...
Not so sure about this... I may be wrong, but it sure seems like there is an awful lot of private companies being "bailed out" (or snatched up) by the government... I'm a little curious as to which of these companies really need to be bailed out... Are all these companies so bad off that they need to be partly owned over by the governement? Weren't the democrats railing on Bush for similar ideas just last week? Heck, I dunno...
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