This is good news. A realization that may have come $700 billion too late. But better late than never.
But who is Senate MAJORITY Leader Harry Reid (D-Nevada) criticizing for the "failure" to bail out Detroit? The MINORITY Republicans, of course. According to Reid, isn't everything the Republicans fault? Quoting Reuters, Reid "cautioned that success of the bailout rests with Senate Republicans and the White House." These Republicans must be the most powerful minority in history.
Blocking another blundering bailout is not "failure" but success of rational capitalism and market economics.
And when your party has a majority, blaming the opposition for not allowing you to pass legislation is just silly.
Who will the Democrats have to blame for their failures with expanded majorities next year and Barack Obama in the White House?