Rejection of the latest bailout plan by House leaders postponed until next month a politically tricky decision for the Democratic Congress on whether to approve yet another unpopular emergency plan at a time of economic peril, or risk being blamed for the implosion of an industry that employs millions and has broad reach into all aspects of the U.S. economy.
"Until they show us the plan, We cannot show them the money," Speaker Nancy Pelosi, D-Calif., said at a hastily called news conference in the Capitol.
GM and Ford quickly issued statements promising to submit the blueprint the Democrats demanded.
Thursday, November 20, 2008
Pelosi Stands Strong Against Automakers
Pelosi: Show us the plan first. I'm hoping the plan includes at the very least, salary reductions and elimination of perks.