The Congress is working overtime to get a bailout package ready and get it approved by the White house.President Bush adminstration has been very reluctant to give a full fledged bailout, but the decling job market and a poor November job numbers put the pressure back on George Bush to accept a partial bailout.

With all the reports coming in the following are the terms for bailout

- 17 Billion dollars for GM and Chrysler (Ford is in not dire straits atleast till now)

- GM CEO rick wagoner must go.

- Appointment of Auto Czar, who will be appointed by Bush till the end of his term. Congress wants a six member panel. But finally would have to agree with Bush.

- Strict rules on executive bonuses and Golden parachutes.

- Binding clauses on the restructuring  pay structure and number of models/plants.