Earlier reports had the $15 bailout framework as being reached as a conceptual agreement between the House of Representatives and the White House. In other words, in theory. But now fresh reports show Republican senators threatening to block the bill.
There is now a threat of a filibuster to keep the legislation from evenbeing enacted. This would be a game changer.
General Motors Corporation (NYSE: GM) and Ford Motor Co. (NYSE: F) shares have now turned negative after trading higher all morning.
It looks like Michigan and Ohio have to sit nervously in the hot box a little longer.
Jon C. Ogg
December 10, 2008