Thursday, November 20, 2008
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Pelosi, Reid Stall on Auto Bailout
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Posted by:
Amanda Carpenter at
2:23 PM
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 Senate Majority Leader Harry Reid and House Speaker Nancy Pelosi say Detroit automakers should propose their own bailout package. Other senators would like to pass give the Big Three a $25 billion in assistance.
Democratic leadership refuses to consider bankruptcy as an option for the Big Three automakers and doesn't appear to have any solutions to save Detroit, either.
"We are kicking the can down the road because that gives us the chance to do something positive," Senate Majority Leader Harry Reid (D.-Nev.) told reporters in a Capitol Hill press conference Thursday afternoon.
Democrats say bankruptcy has been ruled out although Washington could do little to rescue General Motors, Ford and Chrysler from that outcome if their companies ran out of money before federal funds could be allocated to them.
“We reject those who are advocating bankruptcy for the industry, we reject that,” House Speaker Nancy Pelosi said. Aside from that, Democrats have made no other decisions. Instead, Democrats are putting pressure on auto executives to find their own solution. “We want them to come up with a proposal we can get through here on December 8th,” Reid said. “We don’t know how much money they need and that’s one of the things they need to come up with.” “Until they show us a plan, we cannot show them the money,” Pelosi said.
A bipartisan group of senators would like to spend $25 billion on a federal "bridge loan" program for Detroit.
"The decision has been made by the leaders to bring us back on December 8th after there have been some hearings on the plan," said Michigan Sen. Carl Levin (D.-Mich.), one of the architects of the proposal. The other senators pushing the $25 billion loan program are Sens. Debbie Stabenow (D-Mich.), Sen. George Voinovich (R.-Ohio) and Sen. Kit Bond (R.-Mo.).
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Now, here is a sign of true leadership and intellectual strength, When in a crisis - DO NOTHING! How can the most powerful country in the World come to this. We are being led by the ignorant elites. This includes the Bush/Cheney, as well as Pelosi/Reid and their cohorts Frank, Dodd, Schumer, et al. These elitists, representative of our "priveleged ruling class", don't have a clue as how to even begin correcting the financial mess this country is in. The ruling class has much to do with causing this crisis through a perfect combination of greed, idealology and outright stupidity. The extreme burdens placed on our native auto industry by past leftist Congresses and their blind support of unyielding Unionists have driven these once great indutries to the brink; of course, some equally stupid upper management has hastened their demise. But, the common man just keeps voting for these ignoramuses and their failed policies.
Let's just hope that Obama can live up to his publicity and forge a team of real leaders and intelligent, experienced people that can begin to deal with this mess. Other than his selection of Daschle, now there is a real fount of intelligence, he appears to be doing pretty well so far.
If he can't live-up to his billing, we are doomed! |
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Why is that illuminati mouthpiece Pelosi so adamantly rejecting bankruptcy? I would like to hear a rational thought out of her, instead of these didactic statements with nothing to back them up. Bankruptcy is what businesses do when they've reached the point where the Big 3 are today, and it was instituted for that purpose. Now we want to divert people from the plan, which has always been the plan, which has worked in the past, and undercutting the appropriate actions that the bankruptcy measures were created to take? |
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It is completely ironic that the two loudest voices against "evil big business" and "evil oil companies" Reid and Pelosi are now the biggest cheerleaders for bailing the Big 3 out of the mess they created for themselves.
I would like to know where Reid and Pelosi were when the American people were begging for relief at the gas pumps all spring and summer long.
I didn't hear either of these idiots saying anything about helping the "poor middle class taxpayer" that was struggling to fill their gas tanks.
And guess where the only place us "poor middle class taxpayers" could cut from our budgets...our grocery budgets. I had to tell my daughter, "sorry honey, we can't buy food this week, mommy needed the grocery money to fill her car to get to work. We still have peanut butter though!" |
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"The other senators pushing the $25 billion loan program are Sens. Debbie Stabenow (D-Mich.), Sen. George Voinovich (R.-Ohio) and Sen. Kit Bond (R.-Mo.)."
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RIGHT ON!
SAVE THE COMPANIES NOT THE UNIONS!
I love it and agree but you know - the white collars are just as bad...
The whole thing is King Solomon and the baby in reverse...
The UAW (and the like 11 other unions involved) the white collar rank and file, executives, retirees, suppliers, dealers, stockholders, bondholders, bankers basically will not compromise. They're all saying better to cut up the baby! |
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Pelosi and Reid not being able to deliver on something, anything, is new? or even news? |
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IF A FLEET OF NEW BUICKS SHOWS UP AT NANCY"S HOUSE YOU KNOW SHE GAVE THE MONEY TO G M ! |
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I forgot this, they want to make it easier for useless bloated unions to form and do away with the American tradition of secret ballots at the same time. |
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We've got to have a bankrupcy of the bloated labor unions. They have brought ruin to a once proud industry. Liberals have single-handedly brought it down. They would do the same thing to free radio and energy if they get the chance. They are going to try to ruin those industries later on when the Kenyan takes office.
These two liberal chumps they call leaders have run Congress to it's lowest approval ratings in history. Single didget numbers. This type of move with the union bail-out to pay them back for votes is why. I guarantee California and Philadelphia would be next in line for payback bail-outs. They have both claimed insolvency. I say let them go bankrupt and let them pull themselves up by the bootstraps. Curtail liberal spending and needless liberal programs to end dept.. |
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I don't see how the Democrats come out ahead on this one. Any bailout is deeply unpopular among the public, but the Dems are boxed in. They need to side with big government, unions and swing state voters. So the Republicans will get a win right out of the gate, as the albatross will hung around the Democrats' neck, not theirs.
The only plan for "viability" will have to include a certain level of de-unionization. In other words, in order to side with economic logic (and the American people), the Dems have to throw big labor under the bus. It would suck to be them...
If the Republicans are smart, they'll extrapolate this situation to the mortgage meltdown and ensuing $700 billion bailout, and make a larger point about the pitfalls of government intervention in free markets (Fannie/Freddie), and the corresponding corruption (lobbyists buying out Dodd, Frank, Schumer and Obama).
If they play their cards right, they can get a two-fer here -- pinning both the Big 3 and Wall Street bailouts on the Dems. But since we don't control much in government, conservative commentators have an even more important role than ever in shaping public opinion. |
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A very tall and lanky passenger is sitting in the back seat. |
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No bailout.
Where was the bailout for the Textile mills? Where was the bailout for the clothing manufacturers? Where were the bailouts for the Coal Industry? Where were the bailouts for the fishing fleets around America? Where were the bailouts for the Small farmer in America? (not the large conglomerates)
These big three should be allowed to file Chpt. 11 freeing them from the strangle hold the UAW has on them.
The government has only caused turmoil and chaos in the private industry. They should get back to the reason they were voted in office. Not, and I repeat, not in private industry's business. The Unions destroyed the Union Housing Carpenter in Ca. They are the main reason the big three are going under.
I received a flyer from the Ford dealer in my small town titled 'VEHICLE ELIMINATION', Every vehicle on the dealers lot should be sold at 10,000 or 50% off MSRP. The dealer is overstocked and has no buyers. No one, in my rural area, can afford the exhorbitant prices the autos,trucks are priced as today. |
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I AM for saving GM, Ford, & Chrysler.....
I AM NOT for saving the UAW.......
My previous job, the union of which I was a member ALWAYS backed the liberal Democrat. ALWAYS...(PAC money, lobbyists, etc.)
Never mattered that half the membership were right-of-center conservatives.....
If the Dems. wrapped a stinky, week-old turd in a tuxedo and ran it, the unions will ALWAYS vote for it........
There are reasons why I want to see the Big 3 survive........
#1....I grew up in a middle class environment where almost everyone bought a Ford, a Chevy, a Dodge, etc....American brands are all I have EVER bought, giving me great service....I have had 4 American vehicles that I have gotten more than 300K miles on....tough to beat that...
#2....Don't know if history matters to you, but it does to me....the USA could NOT have won World War II without the Big 3 plus Harley Davidson....BTW..65 yrs ago, the Japanese and German automakers that people are buying from now, were then making military hardware to kill Americans and the Allies...
#3....If these 3 huge corporations go bankrupt and don't survive, it's a huge blow to the overall makeup of our economy....another manufacturing industry gone....millions of jobs lost...maybe Boeing and Northrup-Grummann should go under too...then we can buy our civilian and military aircraft from Airbus & other foreign companies....if we lose all our large manufacturing jobs, then we can all work at 7/11 and McDonalds and purchase our CDs & DVDs at Best Buy and Walmart...a nation of consumers only....that will make for a strong economy, huh????? |
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Where the heck is Obama on this? Is he going to get to slide for the next four years? |
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How can these two have stalled? They never released the clutch. These two have been in neutral since 2006. |
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Please please please please just let the auto-industry go bankrupt... not another bailout... |
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what they know best. Nothing.
We need four cartoon bubbles with captions. Picture a new car dealership sales floor with with models of new automobiles, one each from the Big Three, on display. Three new car salesmen are huddled off to one side of the room. A male and a female are standing next to one of the new cars. The male is kicking the left rear tire of the car. The female is caressing the left front fender with her left hand. Through the showroom window one can see a Toyoto Prius parked outside. A very tall and lanky passenger is sitting in the back seat. |
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That the Democrats are beholden to AFL/CIO is understood.
The fact that the UAW at this moment can prevent Democrats from protecting the future of the American Auto Industry with this inertia is a grenade under President Obama's desk.
Bankruptcy reorganization is surgery. Bailouts are a wake. If Pelosi and Reid with their majority cannot shake show congressional leadership, then it's Mr. Obama that will suffer the taint from the soiling.
The President elect cannot avoid the consequences of fiscal hemorrhages in the auto industry after his taking office.
It won't matter that the seeds were sown over the past three decades. The fact that his congressional leadership refuses to do anything beyond handing over money to fools will inure disaster on the Obama administration. It's easier to hit a big target than a bunch of scurrying little congressional ones.
Mr. Obama would be well positioned if he got Reid and Pelosi to stand by and see GM go into reorganization while determining whether the other two should/need to as well.
There is no stomach in America for can kicking and life support of an industry that is forged from the 1950's economy and markets.
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But then the Unions have a lot of pull with the Democrats... they owe them big time.
Another thing I find striking, it's all this talk of partisanship...they should act independently, the Conservative Republicans should not be held upon that sacrificial altar which we paid plenty while bailing out the financial sector. Just like the airlines, make detroit drop all the extra cargo. |
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It is completely ignorant and a lack of leadership integrity to jump to bailout without even exploring anything else.... |
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“We reject those who are advocating bankruptcy for the industry, we reject that,” Pelosi.
“We want them to come up with a proposal we can get through here on December 8th. We don’t know how much money they need and that’s one of the things they need to come up with.” Reid
“Until we see a plan…we cannot show them the money,” Pelosi
So they ARE planning a bailout, they just don't know how big of one. The thought that these two people are at the helm just sickens me.
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