Dodd: "It all comes back to us in the end. Sutton had nothing on us."
Posted on 03/26/2009 4:03:04 AM PDT by pleikumud
The Obama administration task force is likely to recommend more aid for struggling U.S. automakers, a senior senator said on Wednesday.
Carl Levin of Michigan said on Capitol Hill that "it is clear" more help is on the way and any assistance for General Motors [GM 2.99 -0.21 (-6.56%) ] and Chrysler LLC would be tied to new conditions on restructuring.
The Wall Street Journal, citing interviews with task force members, reported late on Wednesday that the panel was preparing a recommendation for more help with new strings attached.
The task force has a March 31 deadline to determine whether GM and Chrysler, controlled by Cerberus Capital Management, can be competitive and worthy of up to $22 billion in additional bailout funds.
The two received $17.4 billion in taxpayer assistance in December after saying they could not survive without it. Ford Motor, which is also struggling financially, has not sought a bailout. Levin said he had no specifics on any aid plan, but optimism for new loans to help GM and Chrysler rose last week when the task force approved $5 billion in aid for stressed industry suppliers.
(Excerpt) Read more at cnbc.com ...
Everyone should write/email his Congressmoron and say what you think about this.
They need it to be taken from us and given to them.
Us being poor at the moment.
There’s going to be no end to this black hole.
And the retarded congress is too stupid to realize that.
Americans are in debt to their eyeballs and no amount of “stimulus” is going to change that. People are not going to start spending like it is 2005 all over again. This thing is only beginning.
These are very large ratholes to be pouring our children’s children’s money down. I guarantee you that if these companies did not have unionized workforces, the dems would let them die.
“Ford Motor, which is also struggling financially, has not sought a bailout.”
I’ll buy a Ford for that reason alone.
We have a better chance of getting AIG money back than Chrysler and GM.
Dodd: "It all comes back to us in the end. Sutton had nothing on us."
I will only buy FORD from this time forward!
If you would like to be added or dropped from the Michigan ping list, please freepmail me.
Autoworkers paid taxes, too. THEIR money went to AIG, Fannie & Freddie just like everyone’s.
Only Ford isn't playing ball, and that's gotta be p!ssing Zero off to no end. Good for Ford, dammit. I'm not in the market for a second car, but you can be damn sure that the next one I buy will be a Ford, although I've been saying for years that I would never buy one again. I might just pick up some of their stock, too.
I can't believe I'm defending unions. Hell hath frozen over.
Me too. I’ll never buy a GM or Chrysler vehicle.
...Is the book legit???
Now they call it “aid”. NOT BAILOUT!!!
This reminds me of the British Leyland fiasco of the 1979s when Great Britain nationalized its auto industry to "save jobs" for labor. The cars became such trash that the phrase "British car" usually triggers laughter in auto circles. The companies failed and now, India owns Jaguar and the Germans own Rolls and Bentley. Lotus is owned by Singapore. In short, Britain blew zillions of Pounds trying to save union jobs, made itself much poorer and handed its crown jewel labels to other countries.
Of course, the kids running Washington were in diapers at the time so I doubt they remember much about this. And, given the NEA dominated schools, I doubt they would have learned how Labor destroyed Britain and its auto industry...
Excuse me for a moment. I need to go and have a good cry...
Think of who we elect. School board people, community activists, local media people, pretty faces... none of these people ever seem to be successful in the private sector. They are average at best. So... we send our village idiots to Washington where they meet brilliant Wall Street and Banking types who can run circles around them intellectually. Then, a crisis hits and Dopy, Sleaszy, et al. are supposed to fix the problem!!! Give me a break. These people don't even understand the problem. Then, Pelosi and the other handful of brilliantly evil spin them to deliver the goods for global socialism for We the Peasants and riches for the brilliant bankers.
We need a new revolution where power is DECENTRALIZED and localized like the Swiss so this can't happen to us again.
..Was asking about Obamas’ book title, is this response for me? All the same, I agree with yer premise...
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