$17 billion auto bailout "very close," Michigan senator says

First the Big Three automakers flew on corporate jets to Washington to ask the federal government for $25 bailout. Last week they drove to DC, retooled their offer, and asked for $34 billion.

Over the weekend, the senators appeared to agree on a $15 billion bailout.

Yesterday, Sen. Carl Levin (D-MI) told Fox News Sunday that a deal was "very close," although the Detroit Free Press has the bailout amount at $17 billion.

By all accounts, the automaker in the worse shape is biggest of the Big Three, General Motors. Senate Banking Committee Chairman, Christopher Dodd (D-CT), no doubt using his senatorial baritone, stated Sunday that any deal should involve the dismissal of GM's chairman, Rick Wagoner.

If this bill passes, and if the Big Three CEOs come back to Washington asking for more money, congressman who voted "Yes" will have some explaining to do the next time they face voters.

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