Friday, November 21, 2008

Bloomberg: Obama looking into "prepackaged" auto bankruptcy. Showdown with Congressional Dems on the horizon?

http://www.bloomberg.com/apps/news?pid=20601087&sid=aRfqFMhlj5lk&refer=worldwide
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.

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