In their meeting yesterday, Barack Obama asked President Bush to allow the auto industry to tap into the $700 billion kitty passed by Congress to bail out the financial industry.From The New York Times: Mr. Bush indicated at the meeting that he might support some aid and a broader economic stimulus package if Mr. Obama and Congressional Democrats dropped their opposition to a free-trade agreement with Colombia, a measure for which Mr. Bush has long fought, people familiar with the discussion said.The Bush administration, which has presided over a major intervention in the financial industry, has balked at allowing the automakers to tap into the $700 billion bailout fund, despite warnings last week that General Motors might not survive the year.Mr. Obama and Congressional Democratic leaders say the bailout law authorizes the administration to extend assistance. Mr. Obama went into his post-election meeting with Mr. Bush on Monday primed to urge him to support emergency aid to...(Read Full Post)