Automotive bailout- will it be a Big 3 Christmas present?

[BeachSiO2]

I love how the "anger" over mismanagement is starting to bubble up...

"Sen. Chris Dodd (D-Conn.) said that Rick Wagoner should step down as chief executive of General Motors as part of any government-supported restructuring process.

"I think he has to move on," Dodd said on CBS's "Face the Nation".
Dodd has been working over the weekend to craft a roughly $15 billion
auto bailout package that would carry the Big Three through March of next year. The automakers requested $34 billion from Congress last week."

 

[traderx]

I love how the "anger" over mismanagement is starting to bubble up...

"Sen. Chris Dodd (D-Conn.) said that Rick Wagoner should step down as chief executive of General Motors as part of any government-supported restructuring process.

"I think he has to move on," Dodd said on CBS's "Face the Nation".
Dodd has been working over the weekend to craft a roughly $15 billion
auto bailout package that would carry the Big Three through March of next year. The automakers requested $34 billion from Congress last week."

Wagoner needs to "move on" said the Senator who is part of a government that has run our budget deficit to a trillion dollars and debt to 12 trillion dollars. :roll:

 

[idlewind]

Wagoner needs to "move on" said the Senator who is part of a government that has run our budget deficit to a trillion dollars and debt to 12 trillion dollars. :roll:

Don't forget that Dodd is up to his ears in sweetheart deals with Fannie/Freddie. His support for these two helped start this whole mess. He should take his own advise and "move on.":angry:

 

[idlewind]

A brief explanation of Dodd's issues is at the bottom of page 2 of this article:

http://article.nationalreview.com/?q=YjY4MzYyNzM3ZmU5NjBkOTExMDkzOTYyYTRmMDRkNzg=&w=Mg==

 

[BeachSiO2]

The bill passed the House last night 237-170. Early prognostications are that it might take as many as 16-18 republicans to support the bill in the Senate to pass as they are not expecting 100% democrat support.

 

[30A Skunkape]

The bill passed the House last night 237-170. Early prognostications are that it might take as many as 16-18 republicans to support the bill in the Senate to pass as they are not expecting 100% democrat support.

email your senators and tell them to oppose. then email somebody else's senators and tell them to oppose, too

 

[traderx]

I hope that the Senate snuffs the bill out. This is nothing but money to placate the UAW. The Big Three need to go Chapter 11 and negotiate new contracts all the way around and cut a bunch of employees. Does anyone really believe that the Congress has any insight into how to run a business or turn a huge corporation around?

 

[Alicia Leonard]

The bill passed the House last night 237-170. Early prognostications are that it might take as many as 16-18 republicans to support the bill in the Senate to pass as they are not expecting 100% democrat support.

Not to mention these two items are tacked onto the bill.

"Democratic Sen. Max Baucus of Montana is opposing the measure because of a provision to bail out transit agencies that were involved in transactions now considered unlawful tax shelters."

http://www.nytimes.com/2008/12/11/business/11tax.html


"Also included in the bill is an unrelated pay raise for federal judges."

 

[wrobert]

Does anyone really believe that the Congress has any insight into how to run a business or turn a huge corporation around?

Very good point. I would imagine only a handful of these guys have anywhere near the experience needed to put together a plan. If, according to some, the United States of America is nothing more than a corporation, look at where we are.

 

[traderx]

Not to mention these two items are tacked onto the bill.

"Democratic Sen. Max Baucus of Montana is opposing the measure because of a provision to bail out transit agencies that were involved in transactions now considered unlawful tax shelters."

http://www.nytimes.com/2008/12/11/business/11tax.html


"Also included in the bill is an unrelated pay raise for federal judges."

These are the sort of tricks that makes the electorate cynical.