Auto Bailout: Thursday Afternoon Edition

The bailout is going down in flames. There is not enough Republican support in the Senate to get the legislation through. This is the story so far: Auto Bailout Bill Appears Stalled in the Senate

The Republicans have dug their heels in over this one and will not budge. Since the House voted yesterday and passed a bill, the fact that the Senate seems incapable of agreeing will effectively kill any efforts to get a bailout passed before Congress re-convenes in January.

The White House is also punting this hot potato into the Obama Administration’s inbox.

So that’s it. Pending some last minute fix there will be no bailout this month.