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Politics : President Barack Obama
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From: Lizzie Tudor11/19/2008 12:46:58 PM
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good article. I'll bet you anything that when all these votes are counted it is the western state democrats who won't go along with Detroit after they voted against the CA clean air standards. The CA car companies, who ALSO hire lots of people wanted those standards and detroit thought they could override what the people wanted. Now nobody gives a bleep about detroit.

Detroit Chiefs Back on Hill for a Second Day
“What exposes us to failure now is the global financial crises which has restricted credit,” Mr. Wagner said. “Our industry needs a bridge to span the financial chasm which has opened before us.

Tuesday, after four hours of testimony, it appeared they had not persuaded enough lawmakers to move quickly on a bailout. Senate Democratic leaders said at this point, they had not been able to get enough votes to assure that a bill would pass. And most Republicans remain unconvinced.

There is still a possibility that $25 billion may be freed up from a previously approved loan program to help automakers retool their plants for more fuel-efficient vehicles.

The executives defended themselves before the Senate on Tuesday, saying that cause of their misfortunes was not management mistakes, but the weak economy and the inability of consumers to obtain credit to buy cars. The executives seemed stunned by the general lack of confidence that lawmakers showed in their companies.
nytimes.com
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