The Senate voted 52-35 to bring the measure for a vote — short of the 60 votes needed to advance the legislation. The failure followed the collapse of negotiations between Senate Democrats and Republicans seeking a compromise that all sides could accept.
Auto bailout suffers possibly fatal blow in Senate – Dec. 11, 2008.
Believe me, I’m not happy that this is happening as the result of Senate inaction, but ultimately might force Congress to reconsider prepackaged bankruptcy options.
Bankruptcy…yeah…Chapter 11…that thing used for companies who aren’t making money, but if they restructure could be profitable.
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