Expanded bailout for autos? Not yet at least.

From the NYTimes (By BILL VLASIC and MICHELINE MAYNARD):

The Treasury Department has turned down a request by General Motors for up to $10 billion to help finance the automaker’s possible merger with Chrysler, according to people close to the discussions.

Bravo! America is not headed down the Hugo Chavez hole of collectivizing the entire economy... or at least somebody decided to slow down our transition.

I guess our friendly neighborhood Big Government GOP Administration feels the recent $25 billion bailout is enough. And the needy corporate executives in Detroit didn't really need another $10 billion... at least not yet.

Tim White