Posted on 11/14/2008 8:47:48 PM PST by tobyhill
Democrats may have been the big victors on Election Day. But the Republicans still in charge in the White House and representing a possibly immovable minority in the Senate may keep the U.S. auto industry from getting the help it needs before Barack Obama is inaugurated as President in January.
To convince wary Republicans to go along with a rescue package, a House bill being crafted would give the government stock warrants, an equity stake in the automakers. It also has a provision that would put taxpayers at or near the head of the line for debt repayment when the companies recover.
Without at least $15 billion in loans, General Motors, say insiders, could face bankruptcy next year. The total loan package sought by Democrats for automakers and their suppliers could be as high as $50 billion, a number floated by aides to President-elect Obama.
(Excerpt) Read more at msnbc.msn.com ...
Wow! Politicians NOT bailing something out!
I’m ecstatic and holding my breath. [/sarc]
Sounds good to me!!
We’re nationalizing banks. Now we want to nationalize the auto makers? And have the government run our 401k’s? What next? THIS is just the tip of the iceberg. The socialists are ruining the show.
Detroit has been dead for decades, this just finally makes it official.
hear! hear!
Will Republicans cave in yet again to save union workers that hate Republicans? I HOPE NOT!
WTH do Republicans have to do with anything? In two months, the Dems will be able to do whatever they want. If Detroit can’t last that long, it deserves to die.
>I wonder if JimRob can ban any articles from PMSNBC.
The headline about Detroit dropping dead BY Republicans is the exception. 99.99% of MSNBC should drop dead as well.
GOOD
The 3 majors have a good business across the sea and this way they could restructure here and tell the Union good riddance's the parasite union got the money to cover pensions so now UAW take a hike!
The airlines were not given a bailout; they did what was necessary to survive (without government help). They are now prospering and growing stronger every day.
Let’s see... Detroit and UAW to drop dead... I’m ok with that..
They could always build a quality product and offer it at an affordable price.
Unions can go to hell. They are nothing but damn greedy communists. They have destroyed the auto industry. The Big 3 should move out of Michigan to non unions states. Enough with these communist thugs.
I’m not going to get my hopes up Republicans won’t cave. So consider this response separate from a response of defense for them because I’m tired of fending of attacks for them only to have them do a 180.
As far as I’m concerned...screw them. You elect Democrats to represent you despite your state economies crashing around you, you elect unions to represent you despite their internal corruption and bleeding of the very industries you depend on for employment. You get what you deserve.
Yes, innocents that want no part of those policies get caught in the crossfire and I’m sorry, but bailing out these companies is nothing but a short fix. better to file bankruptcy and start owning up to the problem and fixing it then giving just enough to keep one or two more paychecks coming in. I’d rather have a healthy company in the long term then an anemic one for a couple of months if my livlihood depended on this job.
And MSNBC can go choke on their bias. Democrat’s can get the money now. You all just don’t have guts to want to do it alone. You are vicious, immorla conniving political hacks that don’t deserve to live in this country.
How about going to the UNIONS, and getting concessions?
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