Wednesday, December 10, 2008

Bailout Du Jour: White House and Congress Reach Agreement on Auto Company Loan

Stocks are moving modestly higher now that an agreement has been announced to provide funds to the automakers. This is apparently a strong dose of tough love. I don't think the auto companies are going to be able to do it, frankly. They are in a very tough position. We'll see!

But for the moment, stock futures are rising! Stock traders are convinced that this is a good deal for the economy. (Until tomorrow!)