Posted on 11/20/2008 12:36:53 PM PST by SmithL
WASHINGTON (AP) -- Democratic leaders in Congress sidetracked legislation to bail out the auto industry Thursday and demanded the Big Three develop a plan assuring the money would make them economically viable.
"Until they show us the plan, we cannot show them the money," Speaker Nancy Pelosi, D-Calif., said at a hastily called news conference in the Capitol.
She and Senate Majority Leader Harry Reid, D-Nev., said Congress would return to work in early December to vote on legislation if General Motors Corp., Ford Motor Co. and Chrysler LLC produce an acceptable plan.
The decision averted a likely defeat of legislation providing $25 billion loans for the industry. Reid and Pelosi said there was no plan in circulation that could pass both houses of Congress and win President George W. Bush's approval.
While the decision headed off the defeat of one bill, it did not necessarily translate into passage of a different one.
As a result, the fate of hundreds of thousands of auto workers and even of an iconic American industry hang in the balance.
(Excerpt) Read more at sfgate.com ...
Hahahahahahawwwwwwwww, they couldn’t get the votes!
The axis of evil, Obama/Pelosi/Reid, are waiting for their marching orders from the UAW.
No republicans to blame for bad legislation?
Many lame ducks (Pres Bush included) won’t be around to blame in 2009 when the effects come home to roost- on Stretch Pelosi and Dingy Harry.
No republicans to blame for bad legislation?
Many lame ducks (Pres Bush included) won’t be around to blame in 2009 when the effects come home to roost- on Stretch Pelosi and Dingy Harry.
The car companies are steadily moving offshore in any case. Pay them billions or pay them nothing, its the same. They’re leaving.
Why should the auto execs play this farcical game with Reid and Pelosi? They could retire with their millions and let their companies go bankrupt. The US would still have plenty of cars manufactured in the non-union South, particularly since not many customers have enough money to buy a car anyway.
The only ones to suffer would be the greedy UAW, who spent $400,000,000 in campaign funds to re-elect these lousy Dems. The laugh is on the union bosses who actually trusted them.
Pelosifer, Reidifier, and the chronicles of Balarnia.
These too-toos are COMPLETELY UNFIT to govern America.
Soo they will have us all riding horses and bicyles.
We will become a 3rd world nation.
BUT WE WILL STILL HAVE OUR GUNS ;-)
“Until they show us the plan, we cannot show them the money”
Automakers-need a “plan” for a line of credit.
Banks—no plan, $350 billion in bailouts, gifts and graft related to mystical financial instruments.
In this case a punt is better than a Hail-Mary.
The instruments aren’t too much of a mystery.
Heck, as I said, all Paulson has to do is turn over 25 bill of the 350 he’s saving for Obama.
Talk about NO LEGAL CONTROLLING AUTHORITY, Paulson has it in spades, he doesn’t have to disclose or justify anything.
But, Paulson will save the bankers, but not working class joes. Bush of course, is just a witless, hapless bystander with no control over anything.
Fine, let the Chinese build the Corvette and the Koreans, the Mustang.
Surreal.
Republicans will still need to re-elected...This gives Dems and excuse to blame everything on Repubs. God help the Repubs if one of the big three fails and takes the economy with it before 12-8-2008.
The Dems need some of that bipartisan baloney to hide behind, and they ain’t gettin’ any. If the Repubs join in, the Dems can spread the blame. This time the Repubs aren’t reaching across. Is it reaching across or reaching around? I forget.
Voters know the Bank/No-Plan bailout was a debacle.
The fact that we screwed up once is not a reason to keep doing it forever. Everybody can see the bailout line starting to form. Automakers, then who? It will be an endless stream.
I think congress is hearing that voters don’t expect it to go on forever. It looks like the automakers got in line right after the door closed.
This is good, about the only effective weapon we have is to remove our fingerprints — Vote present on these type votes and allow the Democrats to tell the public how tax money should be used to bailout the UAW.
All UAW & three auto mfg is wait untill Jan.. when the dems have a super majority... they can then do whatever they want. Unions are counting on it. Then the Unions wiht its check card... and Unionize every occupation that left in the USA. The Thugs will be out in full force.
If there are no cars what will use all that SAAUUUUUDDDDDIIIII OIL? Looks like they’ll give it away
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