Dec. 11 (Bloomberg) -- Senate negotiations for a U.S.automaker bailout plan collapsed, in a blow to General Motors Corp. and Chrysler LLC, which may run out of cash early next year.
“It’s over with,” Majority Leader Harry Reid said on the Senate floor in Washington. “I dread looking at Wall Street tomorrow. It’s not going to be a pleasant sight.”
Equity futures are pointing to a 3.00% - 3.25% drop in overnight trading. Asian equity markets are down between 3% and 5%. Crude is down about 4%, gold is down 1%. The US dollar is at its weakest level versus the Japanese yen in 13 years.
On a totally separate note, I really think that Yo La Tengo is one of the most underrated bands of the last 20 years. Also, I DID NOT bid for the Illinois Senate seat.
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