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calendar   Friday - December 12, 2008

Bailout Bucks, One Way Or The Other

The eviiil Bush White House is planning to take a big pile of that $700 billion for the stock market and give it to the auto makers. So even though the Detroit bailout failed at the legislative level, the executive level will make sure they get some money.

This reminds me of voting on school budgets in NJ. They get voted down, but the town councils approve them anyway. The will of the people be damned.

After the Senate refused to pass a rescue bill for the U.S.  auto industry that was endorsed by President Bush and congressional Democrats, the Treasury Department said Friday it is ready to prevent the collapse of Detroit’s Big Three carmakers.

“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,” Treasury spokeswoman Brookly McLaughlin said.

McLaughlin told FOXNews.com that no decision has been made yet and wouldn’t speculate on when one would be reached. But sources close to the discussions told FOXNews.com that a decision could be made as early as next week.

The White House said Friday it would consider using money in the Wall Street bailout fund to help the automakers.

“The current weakened state of the economy is such that it could not withstand a body blow like a disorderly bankruptcy in the auto industry,” White House press secretary Dana Perino said.

In further news on this topic, the UAW is blaming the Republicans for the bill’s failure. Which ignores the truth completely, that it was the UAW’s refusal to comprimise and set a schedule that caused the bill to collapse.

Bush’s Republican Senate allies said the bill failed because of a dispute with US autoworkers unions on the timing of bringing their wages in line with those paid by foreign automakers to non-unionized workers in US states.

But why let something so silly as the facts get in the way?

The head of the United Auto Workers union lashed out Friday at Senate Republicans—Tennessee Sen. Bob Corker, in particular—blaming them for scuttling the $14 billion auto bailout package approved earlier in the week by the House.

GOP objections stalled the measure in the Senate Thursday night. Republicans put pressure on the powerful autoworkers union as they tried to squeeze out concessions in exchange for their support.

“This was just simply subterfuge on the part of the minority in the Republican Party who wanted to tear down any agreement that we came up with,” UAW President Ron Gettelfinger said at a press conference, declaring “the auto industry around the world is in peril.”

Intense negotiations broke down over the union’s refusal to meet GOP demands for wage cuts. Corker, the architect of the Republican counterproposal to the House-approved bill, told FOX News that negotiators were “just three words away from a deal.”

But Gettelfinger said Republicans were holding the union to a “double standard” and trying to applying an undue burden on their workers.

He questioned whether Republicans had an ulterior motive, but said the union was nevertheless willing to negotiate.

Well gosh, so glad you’re “willing”. What was it that you were doing the other day, when this whole mess failed?

I think the time for unions has passed in America. Not just in the auto industry, but everywhere. Especially for teachers and government workers. Throw them all out.


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Posted by Drew458   United States  on 12/12/2008 at 03:07 PM   
Filed Under: • Big Businessplanes, trains, tanks, ships, machines, automobiles •  
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