He is the champion speaker for the “ethanol lobby” and has given many speaches extolling the virtues and cost effectiveness of this green product. Newt can be bought and paid for very easily. He is just like any other politician.
The ship on preserving capitalism has already sailed.
The Gov has given away 3 trillion with no strings arrached to the “suites” who created the phony paper profits in the first place. AIG alone has received 150 billion and will probably need more.
To deny the auto industry funds defies any rational logical thought.
Sure, we have spent 3 trillion bailing out investment banks,banks,insurers,fannie,freddie,homeowners,foreign bond holders, etc., but 50 billion to rescue the auto industry is against our capitalist principles!
The lender could all the things you said voluntarily and it would be in their best interests. Why do Bush and Paulson have to coerce billion dollar lenders to do it?
Perhaps if a few lenders and borrowers went bankrupt, a few lessons might be learned.