We've seen quickly crumbling Republican recalcitrance before, but this time it is the Senate, rather than the House, that is holding up a big bailout. And it is doing so in the face of lobbying in favor by Dick Cheney himself. If there is time to consider something else (Politico thinks it is unlikely), here's Bob Corker's proposal, Corker being the senator from Tennessee, which, entirely coincidentally, houses the headquarters and principal operations of Nissan North America:
the alternate plan offered by Mr. Corker calls for giving the holders of bonds issued by the auto companies 30 cents on the dollar to ease the companies’ debt burden; immediately bringing workers’ wages in line with foreign companies like Nissan and Volkswagen; and forcing the United Automobile Workers to eliminate payments to workers after their jobs have been eliminated.
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