The Republicans in Congress wouldn't approve a bail out for automakers. So Bush and the Democrats in Congress did an end-around and gave up on trying to find fresh money for Detroit. Instead, they filched 14 of the $700 billion that was already approved by Congress to bail out the financial system and directed that to the automakers.
The $14 billion is purportedly being given as secured low interest loans. We are told that the money will be paid back and tax payers may even make a little money off of the deal.
So what happens if the big three automakers take the money and STILL go bankrupt?
