Tuesday, December 09, 2008

Quid Pro Quo on the Automaker Loan?

Perhaps this was just badly written, but a brief blurb from the AP about the timing on the vote made me do a double take -

Senate Majority Leader Harry Reid said Tuesday that Congress could act on an auto bailout as early as the end of the day.

Reid, D-Nev., said a final agreement with the White House on help for the Detroit Three could come "within an hour or so," and hinges on only a couple of outstanding issues. He predicted the package could be finished by late Tuesday or Wednesday.

The timing, Reid said, in part because lawmakers are still waiting on the White House to decide whether to request the second half of a $700 billion Wall Street bailout fund. "That decision has not been made yet," he said.

Meaning, what, exactly? Does WH approval hinge on Wall Street getting the rest of their slush fund? Is Reid holding the auto loans out as leverage? Are three million American jobs being used as a bargaining chip?

More to be revealed later. Or not. Maybe we really don't want to know.

Just get it done.