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US
Edited Date/Time
1/16/2012 10:42pm
How does the President just give $17B to the automakers without congressional approval?
Bush is just telling Paulsen what to do with the bailout money?
So in essence, the $700B didn't go to the treasury secretary to bail out the economy, it went to Bush to do as he pleases through Paulsen as a puppet.
Congress said no to the automakers, so the President said "fuck you" and did an end around
Bush is just telling Paulsen what to do with the bailout money?
So in essence, the $700B didn't go to the treasury secretary to bail out the economy, it went to Bush to do as he pleases through Paulsen as a puppet.
Congress said no to the automakers, so the President said "fuck you" and did an end around
Al Franken is doing the same thing with the recount process in Mn.
That $700B should never have been allocated in the first place. It's just going to create more debt that can't be paid back..
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Obama is in favor of the bailout so why would you say something like this. I am not an Obama hater by any means but it's getting old listening to some of the sucklers around here.
Issue enough in loans to keep them operating or:
Let the extended plant shutdowns transition into Ch 11 early into next year.
Watching them close down plants as Obama is sworn would have been like setting a time bomb to go off during his honeymoon.
The UAW suspended the Job Bank deal and the company is extending the xmas shutdown, so it's not like absolutely nothing has been done. It prolly just prolongs the inevitable, but at least this way Obama has a chance to manage the issue. I would think a BO supporter would be relieved....
They get it right and pay the money back, or they file for bankruptcy in March
You Bush haters just can't see that this is doing the Obama a favor.
Bash on brothas...
To allow the big 3 to go under would mean that one of the only industry's left in this country that actually produces something of value will go the way of the rest of our manufacturing jobs that have been outsourced at a huge cost to this country & it's already shaky economy.
The Republicans are playing chicken with our jobs & economy for the sake of old outdated ideology that they still can't get past. You would have thought, after the results of the last election that they might have gotten a clue but it appears that they intend to continue to cling to the obstructionism & partisan politics that they have practiced for the last 30 years to the detriment of all.
Kudos to Bush for seeing the logic in trying to save our industry & bucking his own party's flawed logic. I never thought I would say that.
We gave the banking industry pirates a blank check & they produce nothing but bad paper & huge bonuses for their CEO's. To deny the auto industry a relatively paltry sum compared to the $700 billion no questions gift given the bankers is the height stupidity & exactly what we don't need.
I saw an interview where Bush said he was "sacrificing free market principals to save the free market system." That actually makes sense. I guess Senators feel like they can stick to principals because they won't get blamed for what ultimately happens - and its helpful when the effect of sticking to those free market principals is to bankrupt the largest competitor to a business that does a lot of business in your state. That's the whole deal with the "Senator from Nissan" Bob Corker and the "Senator from Toyota" Richard Shelby.
It's just as inaccurate to say the economy of 1960 - 1980 was evidence of the failure of alternatives to free market principles.
Maybe Obama can save the labor unions while at the same time maintaining America's competitive edge against countries paying pennies per hour to perform the same tasks.
Maybe he can find a way to redistribute wealth from the wealthy to the less fortunate without chasing away capital and crippling productivity.
But unless or until he does, it's premature to celebrate the demise of free market principles or celebrate the success of socialism IMO.
Being pragmatic may be the answer in the final analysis. I'm hoping so anyway .....
Pit Row
That's the way it's written, no "end-around". It's called leadership.
Is it the right decision? Only time will tell. Like my Dad, Cap't. Gary always told me.."MAKE A DECISION, LEUTENANT!!! RIGHT OR WRONG, MAKE A DECISION!!!"
Congress said "No" to a hand out, the Executive Branch allowed them a loan. Congress pussed out, they knew something needed to be done to save the industry. They just let Bush do the dirty work.
Got it!
Dave, is there ANYTHING you don't like to bitch and moan about ?
Corker wasn't siding with Nissan, Corker was siding with logic. The UAW idiots are most of the problem!!!! If they can't give to keep their job, Fuck EM!! Each and everyone of them!!! With the way unemployment is, I am sure their would be lots of people that would take those jobs. Until the auto workers stand up to the unions more of the same will continue!!!
President-elect Barack Obama, who takes office a week from Saturday, praised the White House action and said that "the auto companies must not squander this chance." He said they must begin "the long-term restructuring that is absolutely necessary ... while also creating the fuel-efficient cars of tomorrow."
http://news.yahoo.com/s/ap/meltdown_autos
Now we're learning it was really only the Congress that had the right to do anything substantive ....
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