The Bush Administration is planning to use money from the $700 billion financial system bailout for an auto industry bailout.  To do that, it is seizing on the fact that the bailout statute contains a very broad definition of “financial institution,” which the Administration claims includes virtually any institution, financial or not.  The bailout statute defines “financial institutions” eligible for the bailout as  ”any institution, including, but not limited to, any bank, savings association, credit union, security broker or dealer, or insurance company.”   Never…

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