We can thank God for small favors.
In two interviews this week, President Bush has enumerated several concerns about whether or not to release TARP funds as loans to GM or Chrysler.
Far from rushing to release the funds, the President said he doesn't want to 'throw good money after bad,' and prefers an 'orderly bankruptcy' to a total, immediate liquidation.
Maybe we're not seeing him cave in to the UAW's Gettelfinger just yet, as Paul Ingrassia wrote on Monday in the Wall Street Journal.
Bush went further, stating that he is trying to minimize the size of problems left to his successor, and is putting himself in that position, to consider what would be best to do from that perspective.
He also went on record as requiring the UAW to give on some contract aspects in order to make any loan worthwhile, rather than useless in the long term.
Maybe there's still hope that GM will be pushed into a normal Chapter 11 filing after all.
We may know later this morning.
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