Bush changes thoughts about auto bailout package

With tensions mounting before Congress' lame duck session approaching, the Big Three have been discussing not only the 25 billion dollars that the federal government had promised to the automotive industry, but will also be wanting more immediate funds to assist in their cash-starved respective worlds. The thought, however, of doling out more money without much of a turnaround plan for such aid, has made the ploy a bit sourful in most government officials eyes.

Speaking of lame ducks, President George W Bush, who helped design the initial 25 billion dollar bailout package, in light of the seemingly stalemate that has been created, has offered to change the 25B package to basically free up more money to be used in different ways, unlike the previous agreement which would have restricted the package's funds in many different ways. There's been no discussion about the details as to what this would specifically mean, but it doesn't mean that the auto world will get their dollars sooner than anticipated.

Is this a good thing? Well, it's a negotiation of sorts, but I don't see the brass of the Big three going away that easily. One of the primary concerns is that the initial bailout package was about half of what they said they needed, plus the fact that it would be weighed down in terms of timing to be able to get the money to them, so basically it is a situation where I believe they are going to scratch and claw for whatever they can lobby for at this point; pride is no longer an issue, it's panic time.

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Bush changes thoughts about auto bailout package

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