Although House Speaker Pelosi, has indicated, bankruptcy for
the automakers, is not an option, today the Senate leadership, said the votes were not there, for the bailout bridge loan.
One analyst stated on CNN, that he thought that when the three CEO's of Ford, GM and Chrysler flew to Washington, D. C. , for the hearing with Congress, in three separate private jets, the public turned against the bailout. Very well, but does that mean that the country has to watch while the auto industry goes belly up, as they file bankruptcy? Unemployment is at 6.5%, there are an estimated three million jobs wrapped up with the industry, around the country. The unemployment rate is already going to hit 7.0%, the end of this week or surely next week. Then top that off, with all those people, look out for 10% unemployment, and more people on food stamps, and losing their homes. The banking system received nearly three-hundred billion dollars, without any kind of plan for potential solvency, promise or anything, because Secretary Paulson trusted them, now they are buying other businesses, not lending to the public, paying themselves bonuses, and doing whatever they darn well want to. Yet the auto industry, which is about the only manufacturing, in the counrty, that is still in the business of producing products, even if flawed, must suffer due to the financial entities, frivilous piddling with billions of dollars. Certainly the CEO's of the three auto companies should be held accountable, but there are workers, and families out there, who depend on these companies for their livelihood, what about them? Do not tag these companies with bankruptcy, which would be the kiss of death, in my estimation, no matter how structured and protected it is. No one, in their right or wrong mind, would purchase an automobile from a company in bankruptcy. Additionally, it may be too late, the ship may have already sailed, and the companies, may not be able to regain the confidence of the people. We may have a fiasco that is going to turn into chaos regardless. Unless we are wrong, this is going to affect the U. S. stock market tomorrow, as anticipation of a collapse of at least GM, is thought to be imminent, unless President-Elect Obama can persuade the current Congress to make the bridge loan. Stay tuned.

More details from Mumbai, another timed bomb, the fifth one, was found at the train station initially attacked, and was defused. The captured terrorist said the ten of them, were trained for a year and a half, prior to coming to Mumbai. They were reportedly trained by former Pakistani Army officers. The terrorists were given code names, and did not know what the other was being trained to do. A fisherman, in Mumbai, had gotten a tip, that there were going to be terrorists, who would come to Mumbai, by way of the harbor, he gave the information to the Indian police, who did nothing. There was heightened security for a while, then it was reduced. Secretary Rice, who was in Mumbai today, urged Pakistan to co-operate fully with India, and also to curtail the activities of those militant groups within it's borders.
Others have noted that Pakistan, does not understand that eventually, they will be destroyed by the very militants that they seemingly allow to terrorize others. The captured terrorist, reportedly, is going to be charged, and the ultimate penalty, death by hanging, is going to be requested.

The ECB may become more aggressive with interest rate cuts, due to the deeping recession.

State Street, is said to be cutting 1,700 jobs in the near future.

Asian stocks fall, as Japanese captial spending slumps.

New Zealand cuts rate from 7.0% to 6.5%.

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