[2ndDivisionVet]

* “[I]n the bank rescue, taxpayers are subsidizing not only failure but also outright recklessness and greed.” (Lest we forget: the banks knowingly loaned $3.2 trillion—yes, trillion—to home buyers with bad credit and undocumented incomes.)

It was Democrats like the aforementioned Congressman Barney Frank that FORCED those banks to lend those trillions to people with bad credit & no source of income!! What chutzpah!!

[April Lexington]

Um... maybe the Democrat controlled Congress can pass something to help them out? The Republicans are powerless and in the minority so why is it their problem?

If they wanted a Republican solution, they should have voted for McCain and a GOP Congress!!!

[VeniVidiVici]

When do we get to put congressional pensions, health care, housing, expenses and ALL THE OTHER PERQS those poor excuses for human life get as part of their congressional kingdom stipend, under the microscope?

Congressional compensation is where the true problem lies with the system.

[TheThinker]

so they actually have a vested interest in destroying the American car industry. That’s what they mean when they say “all politics is local.”

Maybe, but where's the proof that Shelby is deliberately trying to sink the Big3 for self-interest? When the article says "they" it means other Southern Republicans. Again, back up the accusation.

[musicman]

From the article:

"One underreported aspect of the Republican opposition to saving Detroit was spotlighted on the CBS Evening News last Friday by correspondent Sharyl Attkisson. The CBS reporter observed that many southern senators have foreign car companies in their states, including BMW in South Carolina, and Honda and Mercedes in Alabama—the home state of Republican Richard Shelby, another leader of the fight to kill Detroit—so they actually have a vested interest in destroying the American car industry. That’s what they mean when they say “all politics is local.” "

[vaudine]

My Senators (Sessions and Shelby-of the Banking Cmte) BOTH opposed and voted against TARP, so trying to say they want to destroy the American auto industry is disingenuous to say the least. They rightly see the auto industry bailout as futile unless the auto makers do something drastic about the unions. It is, truly, a union bailout.

I drive a Pontiac Montana which I love, but the truth is it has a much lower warranty than the foreign cars made in the US and those made elsewhere. Many here in my area work for Mercedes and they make a lot less than Detroit when everything is added up. Why should they and the rest of us subsidize private industry when said industry is not wanting to change very much in its way of doing business?

THIS IS A DEMOCRAT/UNION THING and we are going to get much more of the same thing with Obama and pals.

vaudine

[ari-freedom]

Well WE didn’t ask for the 700 billion bailout either. We told you this would happen, that they’d be able to use it to ask for more bailouts. Stupid Republicans and the WSJ.

[Iron Munro]

Isn’t it ludicrous to watch these self important scoundrels primp like demented peacocks trying to convince us they are being prudent and diligent?

They oppose loans of $25 billion or so to the Big 3 after practically Coronating Paulson and Bernanke throwing open the doors of the treasury to Wall Street raiders without taking 5 minutes to question if Paulson was lying to them.

Various accounts put the real number handed over to financiers at $4 to $8 trillion so far and the money is still pouring out. No one really knows how much is gone because Paulson and Bernanke won’t tell anyone.

Now that Congress know Paulson was lying through his teeth and made fools of them for all the world to see they want to recover by looking tough in front of the TV cameras by belttling American auto company CEO’s and holding back on $25 billion.

The only difference on this issue between Republicans and Democrats is that the Democrats are pushing an agenda and the Republicans are just playing the fool and going along for the ride.

[GVnana]

Exactly. Lord I'm tired of reading analyses on the "financial crisis" from people who know virtually nothing about it.

The author could have, at least, read the reporting from the NYT on Franks and the Fannie/Freddie fiasco.

[mewzilla]

A good description of the UAW bailout: Requiring people who make far less to bail out people making far more.

Note to the 'Rats: Make our day.