Auto Bailout Deal Runs Out of Gas

Auto Bailout Deal Runs Out of Gas

U.S. automakers saw their $14 billion loan deal skid off the road early this morning as Senate Republicans jammed on the brakes. This panic stop caused a chain collision on Asian and European stock markets, which report major damage. Wall Street is bracing for the impact.

Senators are abandoning U.S. automakers on the shoulder, leaving Capitol Hill for National Airport, and flying home for the holidays.

We expect the Senators will have some interesting conversations with the once-prosperous auto dealers back home who bankrolled their past election campaigns. Senators: Be careful. In the hands of irate Chevy salesmen, Christmas stockings full of coal can be nasty weapons.

What next? Time Magazine says After Auto Bailout Blowup, Bush Must Take the Wheel.  Perhaps, but we recall something about W, Kennebunkport, and a  DUI conviction ….

Image by Mike Licht. Download a copy here. Creative Commons license; credit Mike Licht, NotionsCapital.com
Yeah, yeah, Republicans, we don’t want Teddy driving, either, so save it. That and bus fare will get you to the unemployment office this morning.

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