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(MI) Source: Auto Rescue Deal Reached
WXYZ Detroit / Channel 7 ^ | 12/11/08 | WXYZ

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.


TOPICS: Breaking News; Business/Economy; Government; US: Michigan
KEYWORDS: 110th; automakers; bailouts; bribery; bush; bushbailout; bushsellout; bushwhore; chrysler; gm; graft; grandtheftauto; newdeal; rino; rinos; rumor; socialism; tammanyhall; tarp; teapotdome; uaw; unions; waitfatladysings; welfare
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Why the (*@#& did they bother with congress if Bush intended to do this all along???
1 posted on 12/12/2008 4:13:51 PM PST by Kieri
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To: Kieri

Bush Bush Bush, what was the point of having the damn House and Senate vote on it if you were intending on passing it anyway


2 posted on 12/12/2008 4:16:02 PM PST by Sarah Barracuda
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To: Kieri

Sounds like Corker may have gotten the oversight he wanted


3 posted on 12/12/2008 4:16:10 PM PST by lewisglad
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To: Kieri

Bush the republican socialist that just can’t stop giving away our money.


4 posted on 12/12/2008 4:16:10 PM PST by stockpirate (Give me liberty or give me a handout.)
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To: Kieri

Either way, it is a NO WIN situation.


5 posted on 12/12/2008 4:17:02 PM PST by rovenstinez (,)
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To: Kieri

Where does this end? I am all for all good Americans who are following the Constitution to march on DC . I am ready for a revolt.


6 posted on 12/12/2008 4:17:19 PM PST by estrogen (time to fight)
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To: Kieri
"Why the (*@#& did they bother with congress if Bush intended to do this all along???"

I believe accountants call it "window dressing". This was the plan all along. The vote also allowed Senate Dems in red states to vote in a way that please MOST of their constituents.

7 posted on 12/12/2008 4:17:46 PM PST by Big_Monkey
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To: Kieri

Wow. That’s very noble of Bush. I’m sure the UAW workers will be so grateful and will remember to vote Republican in the next election.


8 posted on 12/12/2008 4:17:51 PM PST by jersey117
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To: Kieri

If congressional approval was needed for the $700 billion bail out. And the bill spelled it out very clearly what the money was to be for, how can “they” simply say “Screw you guys. I’m going home! And I’m taking the billions with me.”


9 posted on 12/12/2008 4:20:17 PM PST by Terry Mross
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To: Kieri

This is an unsubstantiated rumor, and nothing more.

Moving on...


10 posted on 12/12/2008 4:21:12 PM PST by Bean Counter (Stout Hearts.....)
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To: Kieri

“We do know the White House and officials from GM have been in talks for several hours.”

In other words, SCREW the legislative process... it means nothing.

This is a textbook example of how Socialist banana republics operate.


11 posted on 12/12/2008 4:23:06 PM PST by navyguy (The National Reset Button is pushed with the trigger finger.)
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To: Kieri
Posted this yesterday but it bears repeating:
12 posted on 12/12/2008 4:23:15 PM PST by PeteePie (We Shall Overcome)
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To: Kieri

So, are the Democrats going to scream about usurpation of power now? Somehow, I bet not. George Bush is the only Socialist in the world that is hated by the left, and it sure isn’t due to any lack of effort on his part to advance their agenda.


13 posted on 12/12/2008 4:24:43 PM PST by TonyStark
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To: stockpirate

Our currency will eventually just be Monopoly money.


14 posted on 12/12/2008 4:25:09 PM PST by nobama08
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To: PeteePie

OMG, that’s awesome. LOL.


15 posted on 12/12/2008 4:26:07 PM PST by randomhero97 ("First you want to kill me, now you want to kiss me. Blow!" - Ash)
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To: Kieri
Bush also released a statement today saying "The economy could not handle the collapse of the car industry taxpayers being soaked any more than they are while I go back to my private life with speaking engagements that are worth hundreds of thousands of dollars an hour. Let them eat cake."

Fixed Bush's statement. That's what he meant, right?

16 posted on 12/12/2008 4:26:13 PM PST by PistolPaknMama (Al-Queda can recruit on college campuses but the US military can't! --FReeper airborne)
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To: estrogen

If this is true, how many other companies will line up under the Forteenth Amendmen and the equal protection clause for money? Napolitano had a take on this today about bailouts being unconstitutional. It is and I am ready.


17 posted on 12/12/2008 4:27:47 PM PST by afnamvet
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To: TonyStark

Speaking of screaming...there’s a LOT of noise here in Michigan about anger against the southern states and the Republicans who voted against this bailout bill. The fury and hatred about to seep out of this godforsaken state is going to be stunning.

The rest of the US needs to forget about the mitten. I hate to say it, but it needs to self destruct before things can improve.


18 posted on 12/12/2008 4:28:14 PM PST by Kieri (The Conservatrarian)
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To: nobama08

All we will be able to afford then is Baltic Avenue.


19 posted on 12/12/2008 4:28:19 PM PST by randomhero97 ("First you want to kill me, now you want to kiss me. Blow!" - Ash)
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To: Kieri

I think it’s now fair to say that our President just sullied his legacy among Conservatives.


20 posted on 12/12/2008 4:28:49 PM PST by papasmurf (Impeach the illegal bastard!)
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To: papasmurf
...our President just sullied his legacy....

For me it was when he hired Powell.

21 posted on 12/12/2008 4:32:00 PM PST by ducdriver (99% of liberals give the other 1% a bad name.)
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To: Kieri

I know, can you believe how WJR is promoting a website to boycott the cars made in the south? Wow....everyone here in freaking out!

http://www.detroitchamber.com/index.php?option=com_content&view=article&id=129:action-center&catid=16:vote-4-biz&Itemid=135

Unions,Business and media are running huge PR campaigns against Republicans.


22 posted on 12/12/2008 4:33:05 PM PST by roses of sharon ("No socialist system can be established without a political police.", Churchill -1945)
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To: Kieri

“.there’s a LOT of noise here in Michigan about anger against the southern states and the Republicans who voted against this bailout bill.”

As if THEY are the victims of the South.

Many Conservatives, heck even RINOs, have left the Socialist States and come down here, it seems that all that is left up there are the teat sucking, welfare recipient, union boot licking, leftist base.

Let them eat cake!


23 posted on 12/12/2008 4:35:04 PM PST by papasmurf (Impeach the illegal bastard!)
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To: papasmurf
I think it’s now fair to say that our President just sullied his legacy among ConservativesThat happened long ago. The borders are still open.
24 posted on 12/12/2008 4:35:09 PM PST by glock rocks (Keep the change.)
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To: roses of sharon

No one cares about the hundred thousand plus average workers in the banking industry who lost their jobs, their investments and their insurance. I’m not talking about the fat cats. I’m talking about the regular 9-5 office worker. The banks got their bailout and the workers still got laid off. Who is to say the same won’t happen to the auto workers?


25 posted on 12/12/2008 4:36:55 PM PST by jersey117
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To: Kieri
Speaking of screaming...there’s a LOT of noise here in Michigan about anger against the southern states and the Republicans who voted against this bailout bill. The fury and hatred about to seep out of this godforsaken state is going to be stunning.

The rest of the US needs to forget about the mitten. I hate to say it, but it needs to self destruct before things can improve.

Totally. Let all patriots head the call to leave the land of Deerbornistan and come to land of Guns and Cowboys where they shall be welcomed as family. Let they of the Michigan Socialsts under the banner of the Donkey take up arms (BB filled and slingshot-like), and come down with their face against the South, for we shall chop them like little-girl-chaff, and verily, they shall wet themselves in fear as the South teaches them the lesson of harsh humility. Yea verily, they of the Collective Ass shall sitteth down, and shutteth up, and their braying shall cease forever.

26 posted on 12/12/2008 4:37:02 PM PST by TonyStark
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To: Kieri

I hope they bring it on.


27 posted on 12/12/2008 4:37:34 PM PST by captnorb
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To: glock rocks

Yes, it is. And all of the good he has done is being wiped out of memory by crap like “Comprehensive Immigration Reform” bill, and these handouts he is so fond of.


28 posted on 12/12/2008 4:38:10 PM PST by papasmurf (Impeach the illegal bastard!)
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To: estrogen
march on DC. I am ready for a revolt.

Ditto that. I say if anyone is planning on paying their taxes as usual next year, they might as well shut up and accept this; they're enabling the next outrage.

This is utterly fubar.

29 posted on 12/12/2008 4:39:14 PM PST by 668 - Neighbor of the Beast (Public education is a welfare program. Do you indulge?)
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To: estrogen

This has gone beyond the point of disgusting... BTW, how did McCain vote on this in the senate?


30 posted on 12/12/2008 4:39:18 PM PST by Arizona Carolyn
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To: Kieri

Bush wants to delay the collapse until he is out of office.


31 posted on 12/12/2008 4:39:20 PM PST by Anti-Bubba182
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To: ducdriver

For me it was when he started talking about “Compassionate Conservatism” in 2000.


32 posted on 12/12/2008 4:41:23 PM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: jersey117
Who is to say the same won’t happen to the auto workers?

Yesterday I spoke with a friend who worked (past tense) for Chrysler until a few weeks ago. He specialized in torque converters and computer controls to make vehicles more fuel efficient. He was offered a buyout and took it. He told us that by the time he left, the "brain drain" left Chrysler with no talent to even *think* about new products and new technology to attempt a recovery.

This could be the beginning of a whole new "North v. South" war. This time the union WILL lose (I hope!).

33 posted on 12/12/2008 4:42:02 PM PST by Kieri (The Conservatrarian)
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To: estrogen
Where does this end? I am all for all good Americans who are following the Constitution to march on DC . I am ready for a revolt.

I'll be there too, my FRiend.

Our government is TOTALLY out of control and no longer bears even the faintest resemblance to what it was intended to be.

MM (in TX)

34 posted on 12/12/2008 4:42:02 PM PST by MississippiMan
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To: DuncanWaring

You have a point there for sure.


35 posted on 12/12/2008 4:42:21 PM PST by ducdriver (99% of liberals give the other 1% a bad name.)
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To: Kieri

I think I may just puke right now....sorry.


36 posted on 12/12/2008 4:42:21 PM PST by austinaero
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To: Kieri


37 posted on 12/12/2008 4:42:22 PM PST by Gary Johnson in 2012 (Gary Johnson for President in 2012.)
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To: Kieri

Well, they can place loose with my tax dollars but they can’t make me buy a car. All the loan money in the country isn’t going to help if people aren’t buying.


38 posted on 12/12/2008 4:42:44 PM PST by CindyDawg (Lord, please bless America)
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To: Kieri

39 posted on 12/12/2008 4:42:59 PM PST by Leisler ("Give us the child for 8 years and it will be a Democrat forever. " Lenin)
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To: Arizona Carolyn

Kyl and McCain both voted against it, as I recall.


40 posted on 12/12/2008 4:43:03 PM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: TonyStark
"Deerbornistan"

LOL - Unless you've been there you don't know how funny (or true) that is.

41 posted on 12/12/2008 4:45:25 PM PST by Big_Monkey
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To: Kieri

Lets just grant the bridge loan to bankruptcy to the auto makers...who’s next..? Used to be when a product or service was no longer needed it went away. And in this case there is no consumer demand. Why do we have to finance their failed companies ? This bailout program is disasterous.


42 posted on 12/12/2008 4:45:26 PM PST by Lady GOP
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To: Kieri

On Drudge...Treasury at the ready to prevent collapse...

The Treasury Department said Friday it’s prepared to act to avoid any possible collapse of nation’s three largest auto companies given that rescue efforts in Congress have failed.

“Because Congress failed to act, we will stand ready to prevent an imminent failure until Congress reconvenes and acts to address the long-term viability of the industry,” said Treasury spokeswoman Brookly McLaughlin.


43 posted on 12/12/2008 4:45:58 PM PST by papasmurf (Impeach the illegal bastard!)
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To: Bean Counter

Not anymore. On Drudge now.


44 posted on 12/12/2008 4:46:30 PM PST by papasmurf (Impeach the illegal bastard!)
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To: PeteePie

I did send an email to GM stating no more purachases of their product if bail out happens.

Won’t be long before we are all driving Yugos


45 posted on 12/12/2008 4:51:26 PM PST by stubernx98 (cranky, but reasonable)
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To: papasmurf

46 posted on 12/12/2008 4:55:04 PM PST by Lady GOP
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To: Kieri

Bush is seriously p__ing me off.


47 posted on 12/12/2008 4:56:23 PM PST by RepublitarianRoger2
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To: Leisler

Excellent and that pretty much sums it up.


48 posted on 12/12/2008 4:56:37 PM PST by Lady GOP
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To: PeteePie

49 posted on 12/12/2008 4:57:02 PM PST by CedarDave (This bumper sticker stays on my pickup: "I'm voting for Sarah!")
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To: AdmSmith; Berosus; Convert from ECUSA; dervish; Ernest_at_the_Beach; Fred Nerks; george76; ...

Bush changes mind, may save auto giants
Politico | | 12/12/08 9:36 AM EST | By MIKE ALLEN
Posted on 12/12/2008 7:04:08 AM PST by meandog
http://www.freerepublic.com/focus/f-news/2147563/posts


50 posted on 12/12/2008 4:58:14 PM PST by SunkenCiv (https://secure.freerepublic.com/donate/_______Profile finally updated Saturday, December 6, 2008 !!!)
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