Democrats postpone crucial auto bailout vote

Democratic leaders in Congress have put off a vote on bailing out the auto industry until next month, and want the top companies to present a plan showing the money will make
them financially viable.

“The executives of the auto industry have not been able to convince the American people or the Congress that this bailout would be their last,“ Senate Majority Leader Harry Reid of Nevada said at a news conference.

House Speaker Nancy Pelosi said: “Until they show us the plan, we cannot show them the money.“

The industry has been asking for $25 billion in loans to stay in business until spring.