Wednesday, December 03, 2008

Pelosi still trying to stave off bankruptcy for Big 3

Pelosi Says Bankruptcy by Automakers ‘Not an Option’

Dec. 2 (Bloomberg) -- U.S. House Speaker Nancy Pelosi said she believes either Congress or the Bush administration will step in to aid domestic automakers because bankruptcy is “not an option.”

“I believe that an intervention will happen,” Pelosi said at a briefing in Washington. “Everybody is disadvantaged by bankruptcy, including our economy, so that’s not an option.”

Especially you right Nancy? The UAW probably would not have much extra cash to throw your way next go round if they had to renegotiate the contracts.

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