Bail-out is likely dead

The Senate couldn't bring itself to give the car companies a 14 billion dollar loan.

I guess this means that they'll likely file for bankruptcy. Most likely will hurt worse than the extra debt in the short-term. Long-term is harder to say.

I'm really out of thoughts on this one. Nobody agrees with anything except that we'd like the economy to be better. It's tough to say whether government action is helpful in accomplishing that goal. For now the auto industry appears to have been judged and been found(left) wanting.

Sorry Michigan, your unemployment rate is likely to bump above 15% soon.