Still Waiting For The Bailout

Sen. Bob Corker (R-Toyota) is of course urging the White House to leverage concessions from the UAW:

WASHINGTON -- The White House tossed out no lifeline for the teetering auto industry Sunday, although President George W. Bush reiterated that he was considering using money from the $700 billion financial bailout fund to provide loans to the carmakers.

"An abrupt bankruptcy for autos could be devastating for the economy," Bush told reporters Monday aboard Air Force One during an unannounced trip to Iraq and Afghanistan. "We're now in the process of working with the stakeholders on a way forward. We're not quite ready to announce that yet."

Bush wouldn't give a precise timetable but said, "This will not be a long process because of the economic fragility of the autos."

Because, you know, the autos go bad if they sit too long!

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