economic collapse

It’s clear now: When Senate Majority Leader Harry Reid (D-Nev.) took to a podium just before 3 p.m. yesterday to announce a bicameral deal on the $789 billion stimulus package, the details of the legislation were murky at best.

Congressional Democratic leaders want to give GM, Ford and Chrysler billions of dollars to save them from bankruptcy. But the White House and the GOP are skeptical about throwing more money at an industry that has resisted calls to change. Are car manufacturers too big to fail?

Democrats and Republicans came together for the Wall Street rescue. But as they begin deliberations on long-term reforms, both seem to be prepping for a heated partisan battle.