Politico Reports : "GM CEO resigns at Obama's behest"

My predictions for this event.

1. This bailout will cost the U.S. tax payer - we are talking about our kid's kids money at this point - 30 to 40 billion.
   
2. GM will eventually fail and take all of our money with it.
3. Some sort of bonus scandal will emerge.
   
4. Congress will pass this 30 to 40 billion in near record time, 24 hours.
5. Every poll in America will say that no wants the government to spend this money.
6. We will hear some terrific speech from Obama that will have a ton of "Buzz" word and mean absolutely NOTHING.
7. The Dow will take a dive.
8. The Forex Market will end the day with a weaker dollar.

Or.... Congress will have listened to the People they claim to represent and not support or approve any spending for the Auto Industry.. Probably Not. So many of the members of Congress(House/Senate) are the in pockets of the UAW and the Auto Industry.

I bet we spend at least 30 billion.

“And that's gonna mean a set of sacrifices from all parties involved — management, labor, shareholders, creditors, suppliers, dealers. Everybody's gonna have to come to the table and say it's important for us to take serious restructuring steps now in order to preserve a brighter future down the road."

Loosely translated. We are screwed - Spend Billions to save a million..

Origional Article : http://www.politico.com/news/stories/0309/20625_Page2.html

As reported from www.politico.com by MIKE ALLEN & JOSH GERSTEIN | 3/29/09 5:23 PM EDT