In the high stakes game of “Who blinks first?” it looks like President Bush lost to the UAW. The biggest losers are taxpayers, naturally.
The White House will authorize a $17.4 billion bailout for G.M. and Chrysler LLC which should last them through February 2009. If the automakers cannot show they’re worth saving by March 31, 2009, the loans will be called and all funds to be returned.
