Friday, November 21, 2008

Bloomberg: Obama looking into "prepackaged" auto bankruptcy. Showdown with Congressional Dems on the horizon?
In a possible hint that the President-Elect may, in fact, govern from the center, Obama has floated the idea of a prepackaged and negotiated bankruptcy reorganization plan. The idea of such a plan was introduced by Republican lawmakers like Tennessee Senator Bob Corker and would minimize taxpayer exposure.

Leaders in the Democrat-controlled Congress and officials representing the big 3 automakers have outwardly rebuffed the idea, setting up a potential showdown.

No comments: