Posted on 12/12/2008 7:04:08 AM PST by meandog
Bush changes mind, may save auto giants
Facing the potential bankruptcy of iconic American firms, President Bush on Friday abandoned his longstanding objection to using using the Wall Street bailout fund to help save G.M., Ford and Chrysler.
A frustrated Republican congressional official said: "If only they had said this last week, we could have saved ourselves a full week."
Ten hours after the Senate rejected a separate lifeline for the automakers, White House Press Secretary Dana Perino said in a statement it would be "irresponsible" to let the companies crash. So she said Bush will "consider other options," including the $700 billion Troubled Assets Relief Program that Congress created for the Treasury Department in October.
"Under normal economic conditions we would prefer that markets determine the ultimate fate of private firms," Perino said in a statement. "However, given the current weakened state of the U.S. economy, we will consider other options if necessary – including use of the TARP program — to prevent a collapse of troubled automakers. A precipitous collapse of this industry would have a severe impact on our economy, and it would be irresponsible to further weaken and destabilize our economy at this time."
(Excerpt) Read more at politico.com ...
When I took my commission I swore to protect defend and protect the Constitution of the United States.
No one mentioned a time limit on that oath.
I will not sit idly by and see the country that many sacrificed to keep from being dominated by communism,
slide there with out a whimper.
With the help of a so called conservative PRESIDENT
There are till W supporters out there. Complete brain dead Hannity robots. (”You’re a great american, bailout GM”)
This brings up a bigger question I have had for a while. Dropping the lesser of two evils argument, did Rs really deserve to win the past two elections with GWB and McCain as leaders? McCain did side with us on this, but many claim GWB is a real conservative. Do you know understand why we lost? Do you understand why I have been saying (and being attacked for ) for a while, that he acts like an evil liberal mole who has been trying to destroy republican party. Even when he does stuff we like he manages to get everyone against it.
GWB cannot lend them money, only give it. He cannot impose conditions in law. BoB planned on doing the same thing, covering elected rats
That about sums it up, and if you don't mind, I'd be proud to wear that as my tagline for a while.
He is a freaking fool and totally cutting the legs out from under Senate Republicans. Screw him.
It’s encouraging to hear that he has a mind. There is hope.
I voted for Bush in 2000. I stood outside “Cheney’s House” during the election fiasco. I’m sorry.
What good will it do? He’s gone in a month anyway.
He doesn’t give a “shiite” about us.
Unions have held American consumers hostage for too long. Americans know how to work and how to produce without having their hands held by these thieves. Time to return to basics. The days of unions being in the least helpful to American workers are long gone.
Reagan would’ve fired them
I second that. He would have cut the legs right out from under those UAW thugs.
I was thinking "band-aid" but you said it much better
You have to understand the mentality of the UAW leadership. If they give everything up in negotiations, then they stand a good chance of being voted out of their elected union offices by a pissed off membership. On the other hand, if they are forced to do things by a bankruptcy court that they wouldn’t otherwise do, they can claim that they stood firm for their membershop, but the courts prevailed. That’s how Union leaders always think. It’s them first and the members next. In my second career beyond the Army, I was a Human Resources Director who spent many hours bargaining with the UAW, IAM, IBEW, UFCW and Teamsters. Every deal made was based on what was going to make the leadership look good, even if they never got what they wanted. It is politics at its ugliest.
If Bush actually believes in something (I mean other than killing Conservatism) I’d sure like to know what it is.
I have been listening to him. What an assclown, saying that Toyota’s wages are equal to GM’s already. He is excoriating the Denate Republicans and praising Bush. Divide and conquer and that is what they have done. Bush is an IDIOT.
Already did, but you know what? Ok, first I will admit that I have become very cynical and suspicious lately so take that for whatever it is worth. But Bush has nothing to gain or lose politically at this point. This takes all the pressure off of Congress and the Messiah. Now it can ALL be Bush’s fault. They have set him up! He doesn’t want to go out thinking he will be blamed for the auto industry blow up so, he caves.
Yes. The Declaration of Independence is MY guiding document in those matters as well.
This in an effort to piss off the 12, or so, people who still do not cringe at the mention of his name. Disgusting!
When our military comes home, they are going to wonder what hit the USA.
I am glad it was you that posted this. You have been doing great work beating back the Bush Robots.
Dont forget RATS as is DemoRats.
I don't always agree with Dick Morris but he hit the nail on the head when he opined a couple of days ago that he believed that W had a frontal lobotomy a few months ago.
While he has governed from the center-left for 8 years (except with the misnamed WOT and even then he refuses to acknowledged WHO we are fighting) it almost seems he is making a special effort to see just how much last minute damage he can do before leaving office, beginning with the Bailout, which sunk McLame's chances.
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