Posted on 11/14/2008 8:47:48 PM PST by tobyhill
Democrats may have been the big victors on Election Day. But the Republicans still in charge in the White House and representing a possibly immovable minority in the Senate may keep the U.S. auto industry from getting the help it needs before Barack Obama is inaugurated as President in January.
To convince wary Republicans to go along with a rescue package, a House bill being crafted would give the government stock warrants, an equity stake in the automakers. It also has a provision that would put taxpayers at or near the head of the line for debt repayment when the companies recover.
Without at least $15 billion in loans, General Motors, say insiders, could face bankruptcy next year. The total loan package sought by Democrats for automakers and their suppliers could be as high as $50 billion, a number floated by aides to President-elect Obama.
(Excerpt) Read more at msnbc.msn.com ...
I, for one, have a decades-long history of buying American in order to support American workers and industry.
If this gift to union organizer scum goes through, I'm forever a foreign car buyer thereafter.
(And, most liberals I know all own foreign cars, so American big auto is about to tick-off the wronnnnggg demo.)
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Awesome! Sounds good to me.
Just take a look at the scumbags those stinking simpletons elect in Michigan and figure out why Republicans would tell them all to drop dead. Hallelujah! Drop dead.
Too bad they didn’t show this kind of backbone when they were being scammed by Paulson and Bernanke for $700 billion back in October.
They rolled over like round healed whores on that one.
They couldn’t say YES fast enough to bailing out multi-millionaires on Wall Street.
Finally, an economic plan coming out of Washington I can understand!
Funny, that’s the same sound my Crybaby wah pedal makes...
Yep. Right now there are five, count 'em five, American-built cars/trucks/SUVs in my driveway. If this Democrat union-thug payoff goes through, those vehicles will each be replaced in turn with foreign vehicles. That is a promise.
But Eff the communionists that are helping to destroy this country.
How can we ever be taken seriously ever again when we cave in on cue from DemocRATS? These RINO's MUST GO! They are simply DemocRAT Lites.
My business is too big to me to fail. Give me my money!
I’m to lazy to do the math. How many cars would $50 billion buy? Can the Government just send us all a coupon for 50% off a new car?
did anyone see the movie made about Henry Ford he always had in the basement of his company his personal militia to take care of the UAW!
‘Ford: The Man and the Machine
http://www.imdb.com/title/tt0093039/
Oh but remember how wild Americans got over the last bailout...that’s why the donkeys need what’s left of the Republicans....and the Republicans will not budge this time.
Instead of saying no to Detroit, this is what Republicans should propose.
They will bail out the Auto Industry if:
1. The Toyota's or the Honda's buy the GM and other auto manufacturing companies with the bailout money and workers get to keep the jobs.
2. Workers move to Alabama and other states and be part of Toyota and Honda manufacturing plants. Federal government will give the 25 billion to the Auto companies who have a long term future and who will hire and retrain the workers.
This way Republicans offer solutions rather than a simple NO.
Does Briggs and Stratton make a 3 cylinder?
I noticed a discussion in an industry magazine with the title question of government takeover of utility industy.
A “double secret” Sounds good to me, KoRn.
The unions helped to destroy the auto industry so let them suffer. I’m tired of having my taxes pay for everyone else but me and my family.
I don’t have a pension plan and medical plan like they do. I pay thru the nose for my medical insurance. No free hand-outs from the union or taxpayer.
Screw the UAW. They loved the red and socialists so much, let them pay for it.
Lets see GM has a current value of about -65B so what would those warrants be worth. Could you sell them to the Chinese?.
then do so! LOL
The dems cannot get enough votes without the rino's.
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