Updated: added video
by David Rogers
Dec. 11, 2008
A White House-backed bailout for ailing automakers collapsed in the Senate Thursday night, pushing General Motors Corp. closer to almost certain bankruptcy absent a major intervention by the Treasury Department.
The 52-35 roll call fell well short of the 60 needed to cut off debate, and appeared to doom any chance of legislative action until a new Congress convenes in January.
“We’re not going to get to the finish line,” said Majority Leader Harry Reid “I dread looking at Wall Street tomorrow (Friday). It’s not going to be a pleasant sight.”
Countdown: GOP Willing to Kill the Auto Bailout and the UAW
Keith talks to Daniel Gross about the GOP’s plan kill the deal on the auto bailout unless they can micro-manage the labor agreements and the emphasis by the Southern senators to kill off the UAW as a part of this deal.
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