“The auto companies will have to submit to strict government oversight to make
sure that the bailout funds are used to carry out the reorganization plans they
delivered to Congress this week. The auto company chiefs testified this week
that they were willing to accept such regulation.”
That is adorable! Automakers are willing to accept regulation….thank goodness because we all know it will be strictly enforced. The other thing we know? When the automakers go belly up anyway, in a some months, this money will be gone. Poof, up in smoke.
“On Friday, Ms. Pelosi said she would allow that money to be used provided
“there is a guarantee that those funds will be replenished in a matter of weeks”
and there was no delay in working toward greater fuel efficiency.”
Excuse me, excuse me-I have a question. If they don’t have money today, where are they going to get money to pay back this loan in a few weeks you fool? Maybe they made the Wimpy promise of repayment. I don’t understand why it is so difficult for people far smarter than me to understand that the car makers are not going to get out of this in a few weeks. Among their myriad of other issues, the American people are not spending big money right now! Do you hear me in Washington? No matter how much money you throw at this, the problem is not going to go away until we start having confidence. We are not going to have any confidence until you guys stop making stupid decisions. That’s it CASE CLOSED. (Can anyone say Paulson, Frank and Dodd?)
As far as I’m concerned every person with an "R" behind their name must cast a no vote for this stinky piece of a plan.
As an aside, I was also all a-flutter to find that Congress was mad at Paulson and are resisting giving him the balance of the $700 billion because he has so poorly managed the first half. Yeah, sure they won’t, but whatever; it was still fun to hear.