The US Senate failed to reach a deal on a controversial multi-billion-dollar bailout for the beleaguered auto industry, Senate Majority Leader Harry Reid said.
"I'm terribly disappointed that we are not able to arrive at a conclusion," Reid said after lawmakers spent hours trying to hammer out a compromise over proposed federal loans for the Detroit automakers.
"We have tried very, very hard to arrive at a point where we could legislate for the automobile industry."
