Repentance and sanctimony were on full display at the Capitol today, as the executives of the Big Three begged Congress for bailout money. The hostility lawmakers displayed toward the honchos a couple weeks ago was absent, but their skepticism remained. "All of us up here appreciate that inaction is not an option," said Sen. Christopher Dodd. "We're also not about to write a check and just hand it over." Dodd added that it would be difficult for lawmakers to approve a financial rescue of the three companies and urged the Treasury Department or Federal Reserve to provide stopgap funding while the House and Senate work out a plan, an idea that President Bush opposes. At the end of the day, prospects of a bailout didn't look any better for the than they did at the beginning, when Senator Richard Shelby began with the opening remarks, “I intend to oppose bailing out the Big Three auto manufacturers.”
Read it at The Wall Street Journal
