Congressional Democrats and the Bush administration have reached an agreement in principle for a...

|By:, SA News Editor

Congressional Democrats and the Bush administration have reached an agreement in principle for a $15B bailout of General Motors (GM) and Chrysler. The plan would provide the funds in the form of loans, with restructuring required, and the establishment of a 'car czar' who could force the companies into Chapter 11 if the restructuring plan isn't in place by March 31, 2009.