Posted on 12/12/2008 4:13:50 PM PST by Kieri
WXYZ) Sources tell Action News that the White House and U.S. automakers have reached a deal that could prevent a collapse of the industry.
IN THE VIDEO PLAYER ON THE RIGHT, ACTION NEWS REPORTER TOM WAIT SAYS THAT A DEAL HAS BEEN REACHED BUT THAT AN ANNOUNCEMENT WILL NOT COME FRIDAY NIGHT
Our source says the agreement with the Bush administration will mirror the bill that passed the House.
We do know the White House and officials from GM have been in talks for several hours. The negotiations may also involve the Federal Reserve.
President Bush is back in Washington after a trip to Texas and an announcement could come at any time.
Bush also released a statement today saying "The economy could not handle the collapse of the car industry."
Congress is now out of the game after talks in the Senate broke down last night.
The House and Senate voted for $750 billion of play money for Paulson to dole out. Bush is directing how to dole it out. The whole insanity of opening the checkbook like that should have been stopped before it was passed. Besides, it was really a bait and switch. The real amount is more like $8 trillion.
Thank you...
There is however no doubt Bush is a socialist.
So let’s see if I understand.
The American auto manufacturers are about to fail because no business person in their right mind will give them enough money to stay in business. Therefore, my government is going to take my money, under threat of legal and physical force, and invest it in an enterprise that no sane person will invest in.
And the same people who are advocating this were up in arms because there was some talk about the possibility of allowing some people who chose to to invest a portion of their Social Security contributions in the investment instruments of their choice.
How long is it going to take this country to learn the facts of economic life? I’m no economist, but it really isn’t all that complicated.
Thanks, would you like the unedited version?
Sure he’s a republican, he just isn’t a patriot.
Because W didn’t count on resistance from the repubs.
Yep, please. Can you send it to my FR mail? Thanks.
This is for nothing but Bush’s *&^%$#@ legacy, he doesn’t want to be the President in office who let them declare bankruptcy.
This is total BS...
The danger here is that the only reason Bush can do this is because the Financial Bailout gives massive power to the Secretary of the Treasury.
The Secretary of the Treasury takes his/her orders from the President.
In a little more than 30 days, that power goes to one Barack Obama.
Michigan is bad in many ways, it full of old folks that are brain dead and will vote Democratic until they are dead, I know that because I used to live up there and my Dad is one of those brain dead fellows. God pray that a bunch of them get stressed out over their hatred toward the Republican party and die off soon.
Here was my prediction October 1, 2008
FR Post: “Why Republicans supporting democrat’s trickle down investor bailout bill is political suicide.”
Posted on Wednesday, October 01, 2008 11:15:58 AM by sickoflibs
http://www.freerepublic.com/focus/f-news/2094884/posts
MY Comment 1 at above post:
This is a huge trap for Republicans. McCain and Bush will kill off house republicans and lose the white house. Liberal media types and democrats say republicans must be patriotic and support Pelosi’s ‘trickle down’ bill so they can be accused of ‘only caring for the rich’ on election day.
Obama says his taxing the rich (fair share) will provide these welfare checks to everyone, then tells house republicans to vote for a ‘trickle down’ bill to give democrats cover. And establishment republicans think it’s great! McCain, we need a leader, not a democrat butt kisser. Point out that democrats are talking collectivism but pushing ‘trickle down’.
Don’t sellout cheap, demand democrats support 1) capital gains tax cut, 2) an independent investigator and 3) a breakup of Fannie Mae and Freddy Mac if they want this ‘trickle down’ to be supported by republicans/
Bush did say once he wouldn’t mind being a dictator. I always thought he wasn’t kidding either.
Check out my tagline from October 3, 2008 and Freepers laughed:
6 posted on Friday, October 03, 2008 11:00:55 AM by sickoflibs (What’s Next ?? the feds buy up GM stock to save the economy??)
http://www.freerepublic.com/focus/news/2096644/posts?page=6#6
Well Zimbabwe just introduced a 500 million note./s
That’s just crazy. Maybe we’ll all be millionaires soon.
Bush may not go down in history as being as bad as Carter but he is sure trying. The only thing that can save his legacy as one of the worst presidents of all time is if, by comparison, his successor turns out to be as bad as I fear he will be.
What worries me is not just the union jobs but all of the other jobs that will actually be lost if they go under. Dealers, parts people, suppliers, etc. Its not just going to affect Michigan. Other states will be overwhelmed with unemployment benes.
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