Day By Day by Chris Muir
Well, Chris, the automaker bailout bill failed in the U.S. Senate late last night (52-35, with 60 votes required for cloture) but this morning President Bush is considering using TARP funds anyway. As you remember the TARP funds are the previously approved $700 million for the financial services bailout.
Obviously, the stock market does not like the bailout failure with an overnight sell off in overseas markets and our Dow just opened 200 points down.
Flap bets Bush will bail the Big 3 auotmakers out and back to business as usual.
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