The Senate Democrats are playing chicken with their Republican counterparts, firmly putting any failure to pass an auto bailout bill around there necks. Given the unspectacular results to date from the TARP, at least in legislators minds, the Republicans seem to be willing to take that risk. A showdown vote is likely tomorrow.
My guess is a failure to get a bailout will see GM magically able to make it through the next few months without the government’s help. Chrysler? They may be a goner unless private equity ponies up some more cash.
