With 60 votes in the senate?...............
Did anyone heard Dodd say at the hearing that it is fine and dandy for union workers to get full pay when not working? Obviously with these morons in charge we will go in to a new Greater Depression. The Fed has chosen deflation over inflation. Obama and his bottom up economy combined with the blithering idiots in Washington spell DOOM for the USA.
Wisconsin’s two Democratic senators favor the bailout. Sen. Russ Feingold said the $25 billion should come out of the $700 billion Wall Street bailout. It would be on top of a $25 billion loan program Congress created in September to help the automakers develop more fuel-efficient vehicles. The senator said it must have protections for taxpayers and require the automakers to make more fuel-efficient cars while taking advantage of their existing workforce.
Sen. Herb Kohl said the aid must be in the form of a loan and include accountability and the expectations of big changes to revive and renew the industry. He said it’s doubtful Congress can reach a consensus on the economic stimulus plan before reconvening in January.
The union spent more than $400 million on the election. The article was in the WSJ. This speake volumes.
http://online.wsj.com/article/SB122592993592603103.html
1. Cars that are far too expensive
2. Cars that lack the quality of many foriegn makes
3. Comapny mismanagement
4. Union excesses
5. Unions period.
A short list of reason why taxpayers dollars should not be used to bailout the Auto Industry.
Is this America? When did we become the Socialist Republic of America? I mean except this past election..
Business suceeds and business fails based on the product and the quaility of the product and the competiveness of the workers etc.
NO MORE BAILOUTS.
Let the Auto Companies fail and allow someone to come in and make then leaner smarter and better then they were.
This bailout is nothing more than a sub-prime loan of gigantic proportions. Have we learned nothing over the last year?
Bailout money will go to sustain an uneconomic business model that arose because for decades the companies and the unions conspired together to rip off the consumer. Worked great (for them) as long as there was no real alternative for most consumers.
It would be much more honest for the government to announce that it would be paying taxpayer money directly into the accounts of car company executives and workers so they can continue to be rewarded more handsomely than most of those who are now paying their salaries.
Plus, these jerks (CEO’s) all flew on private jets (cost of approximately $20K roundtrip) to DC to ask for the money. Let them go bankrupt!!
It will be very interesting to see how the left continues its socialism and vote buying after it has killed the golden goose. Even the far-left Rooney family is selling the Steelers, rather than pay Obamas (their guy, of course) cap gains extortion. When the rich have moved their money, or themselves, away from the danger of a Marxist state, who will be left to rob? How will the votes get bought? How will the labor unions support a party which can no longer support them? What a tragedy for a once great nation. Lessons learned thus far: a country cannot pay its non-producers to breed, import and pay for illegals and allow radicals a free hand and hope to remain a country at all, let alone a great one. It will be great fun to see if enough patriots reamin to take the nation back. The sooner Hussein and his communist supporters overthrow the 2nd amendment, the better. Perhaps that will spark a second chance at freedom.