Posted by Jed Lewison on Fri Dec 5, 2008 at 6:30 PM Pacific

A Deal

The NYT says Congress has struck an interim deal to save the auto industry until President-elect Obama is sworn into office:

Details of the rescue package were not immediately available but senior Congressional aides said that it would include billions of dollars in short-term loans to keep the automakers afloat at least until President-elect Barack Obama takes office.

Ending a weeks-long stalemate between the Bush administration and House Speaker Nancy Pelosi, senior aides said that the money would likely come from $25 billion in federally subsidized loans intended for developing advanced fuel efficient cars.

This strikes me as a reasonable approach. If we've learned one thing from the TARP-disaster, it's that we are better off with stop-gap measures than agreeing to the demands of the Bush administration.

Hopefully this will cool the inane attempts to blame the auto mess on the incoming Obama administration.

A Deal

The NYT says Congress has struck an interim deal to save the auto industry until President-elect Obama is sworn into office:

Details of the rescue package were not immediately available but senior Congressional aides said that it would include billions of dollars in short-term loans to keep the automakers afloat at least until President-elect Barack Obama takes office.

Ending a weeks-long stalemate between the Bush administration and House Speaker Nancy Pelosi, senior aides said that the money would likely come from $25 billion in federally subsidized loans intended for developing advanced fuel efficient cars.

This strikes me as a reasonable approach. If we've learned one thing from the TARP-disaster, it's that we are better off with stop-gap measures than agreeing to the demands of the Bush administration.

Hopefully this will cool the inane attempts to blame the auto mess on the incoming Obama administration.

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