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A bailout or a timeout?
We'll leave that for the experts to figure out.
For now, the auto companies don't much care.
They've got 17.4 billion bucks they desperately need.
And three months to prove this wasn't a desperate waste of time.
Welcome, everybody. I'm Neil Cavuto, and here's the deal:
The auto companies have their deal.
We're still scratching our heads what kind of deal.
$13.4 billion of that $17.4 billion is from that bank rescue dough.
So is it a "TARP" deal?
And we're told Treasury Secretary Hank Paulson wasn't for using that dough for this dough...But still he's the guy temporarily in charge of this.
That's because there's no car czar yet.
And that 90-day deadline for the industry to prove its viability or give the dough back hardly seems like a legitimate threat when you consider by that time, you've got a Democratic president and a much friendlier Democratic Congress as well.
So who's to say this isn't more like a bridge loan to say...Next month...When auto guys can look for another deal, maybe a better deal, maybe a lot better deal.
Seems like it'd be hard to top this one...
Where company bosses have to accept limits on their compensation... But union bosses do not.
No matter, it's money, for now, in the bank...And at the rate these guys are bleeding that money...Not long for that bank at all.
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