Bush Changes Mind, May Save Auto Giants
The auto bailiout bill died last night in the Senate. But now:
Facing the potential bankruptcy of iconic American firms, President Bush on Friday abandoned his longstanding objection to using using the Wall Street bailout fund to help save G.M. and Chrysler.
A frustrated Republican congressional official said: "If only they had said this last week, we could have saved ourselves a full week."
Ten hours after the Senate rejected a separate lifeline for the automakers, White House Press Secretary Dana Perino said in a statement it would be "irresponsible" to let the companies crash. So she said Bush will "consider other options," including the $700 billion Troubled Assets Relief Program that Congress created for the Treasury Department in October.
"Under normal economic conditions we would prefer that markets determine the ultimate fate of private firms," Perino said in a statement. "However, given the current weakened state of the U.S. economy, we will consider other options if necessary – including use of the TARP program — to prevent a collapse of troubled automakers. A precipitous collapse of this industry would have a severe impact on our economy, and it would be irresponsible to further weaken and destabilize our economy at this time."
its a charade
the fed has the authority to pump money into the system any way they see fit. remember the $630 Billion they did before the "big" bailout argument? that one didn't even go to congress.
they're just politicizing this one for more pork. my hunch is that the president will veto their decision, it will go back for a veto overide and won't overide....viola'...auto bailout.
I can't quite remember...
When exactly was it that the government quit pretending that the law had to be obeyed?
-jcr
"The problem with trying to child-proof the world, is that it makes people neglect the far more important task of world-proofing the child." -- Hugh Daniel
Probably around the same
Probably around the same time the people as a whole stopped giving a crap.
The quote below sums it up best.
All tyranny needs to gain a foothold is for people of good conscience to remain silent. Thomas Jefferson
All tyranny needs to gain a foothold is for people of good conscience to remain silent. Thomas Jefferson
my 2 cents
I currently drive a Ford Escape and I love it. But I disagree that these companies need a bailout..uhmm..I mean loan. And even though the "Big Three" will not care, I refuse to purchase a vehicle, ever again, from any of the auto makers that take a bailout. Period. They say bankrupcy is not an option because people will refuse to buy cars from them. Bull. Our attention span is not that long. We still fly Delta. If they file bankruptcy, I would consider their companies for my next car. I will make my small stand on this as a consumer.
None are more hopelessly enslaved than those who falsely believe they are free
-goethe
None are more hopelessly enslaved than those who falsely believe they are free
-goethe
No bailout for auto bosses!
Good on you, amagi. More grist to the realistic mill!
There was a slogan "You're always ahead in a Ford". Not any more. Henry Ford must be weeping!
This might interest you - http://www.fordcortina.org.uk/cortinapage3.htm -
www.ardenforester.blogspot.com
For Free Enterprise NOT Covert Corporatism
www.ardenforester.blogspot.com
For Free Enterprise NOT Covert Corporatism
Looks like Bush listened to Ron Paul's speech.
I recall that Ron Paul suggested that, if a drop in the 700 billion bucket was used to bail the auto companies despite his objections it should at least come out of the 700 billion bucket, rather than an additional appropriation.
Maybe dubbya was listening?
= = = =
"Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job."
That means: For each job "created or saved" about five were destroyed.
I'm a little dense
and I'm having trouble understanding your message.
"Tyrants fear nothing more than insubordination"
"It's just one big club... and WE ain't in it!"
as an evangelical Xian
I can now say bush is an absolute ass h$&e. I knew when I heard his 1st frikin speach I had buyers remorse. He was gonna spend like a liberal. But I had no idea he was such a banker patsey. Ahhhhhh! I could just scream. IT'S NOT YOUR $. Jerk!
Grrrrrr
Watch freedomtofascism.com
Patriot News
http://redpillpost.com
*
Stand up For your Civil Rights
http://SueBadCops.com
as an evangelical Xian
I can now say bush is an absolute ass h$&e. I knew when I heard his 1st frikin speach I had buyers remorse. He was gonna spend like a liberal. But I had no idea he was such a banker patsey. Ahhhhhh! I could just scream. IT'S NOT YOUR $. Jerk!
Grrrrrr
Watch freedomtofascism.com
Patriot News
http://redpillpost.com
*
Stand up For your Civil Rights
http://SueBadCops.com
CHRIST. WHO DIDN'T SEE THIS COMING?
I'm against a war with Iraq...OK, let's go bomb them. I'm against rebuilding other countries, OK, Dick send in the civilian contractors. I'm against bailing out the failing banks. OK, Paulson and Bernanke what's your plan. I'm against bailing out the "big begging 3". OK, Dana give it to them.
Wake me when it's time to pour powder and ball.
All tyranny needs to gain a foothold is for people of good conscience to remain silent. Thomas Jefferson
Hmmm,
this is interesting. My take, helps bushy with his reputation going out. Puts the car companies into the hands of the bankers. Also, puts politicians who voted against it in a bad light here in Michigan. I have to say I am always amazed at the power of these people behind the curtain. They really do look at everything as a chess game.
Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.
So what then does it matter as to whether or not Congress
votes for a specific loan/bailout measure for the auto companies. If they don't, then some kind of executive action, using previously allocated taxpayer-backed debt, will be used instead. Either way, they find a path around public opinion, not to mention their oath.
_________________________________________
"An economy built on fiat money is a society on its way to ashes."
_________________________________________
"An economy built on fiat money is a society on its way to ashes."
Force the collapse of the Beg 3
If Bush, Paulson, and Bernanke bailout the Beg 3 then we need to make them go bankrupt. Boycott GM, Ford, and Chrysler until the file bankruptcy. It is the only thing that will save these companies in the long run. Our money will be wasted no matter what so let's quicken the restructuring.
_________________
Want Ron Paul? Register Republican Now
Just GM and Chrysler.
Ford has said they don't need a bailout at this time.
(They might if Bush bails their competition, though. Gives 'em a commercial advantage that can translate into unfair competition - artificially lower prices on their cars, for instance.)
How come we don't hear anything about GATT and NAFTA violations from subsidizing domestic companies with "bailout" money?
= = = =
"Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job."
That means: For each job "created or saved" about five were destroyed.
Executive WHIMSY eh?
_________________________________
My liberty-minded home base of thought:
www.ponderthis.net
_________________________________
Freedom - Peace - Prosperity
Surprise, surprise...Not
Why spend the money that he already has when he can stick us for more?
But he won't let GM fold.
That would set the bad precedent of letting the market work.
******************************
Money As Debt
http://www.youtube.com/watch?v=vVkFb26u9g8
******************************
******************************
"Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive."
Nicely put.
Good comment..
SUPPORT OUR FOUNDERS' AMERICA
Support the Constitution of the United States
Let's face it
We live in a dictatorship. Checks and balances are gone. Congress means nothing. The people aren't even represented by the Congress in the first place.
http://www.federalfallacy.com
http://federalfallacy.com
That's a self-evident fact.
The presidency was always too powerful, as Patrick Henry pointed out, but in the post-Bush era it has even superceded imperialism. The "Unitary Executive" is just a polite way of saying "dictator".
Regardless of which party occupies Congress, there are no longer any checks and balances. The president can now not only make law using Executive Orders, he can ignore any law he dislikes with "Presidential Signing Statements". Couple all of the above with his sweeping powers to launch undeclared wars and use war powers, and you have an executive more powerful than any King.
That's why it's a waste of our time to try to infiltrate Congress. Congress is a dead letter office.
SUPPORT OUR FOUNDERS' AMERICA
Support the Constitution of the United States
SUPPORT OUR FOUNDERS' AMERICA
Support the Constitution of the United States
what a truly worthless man..
president bush is. he takes the worst from both parties: the finger-wagging moralizing authoritarianism of the right, and the big govt. nanny state of the left.
Backwards!
Make no mistake..... you have this upside down.
Bush is TAKING orders..... not giving them. He can barely read the
teleprompters to make the statements. Paulson is absolutely dictating
policy here and using the DICTATORIAL powers that the bailout bill
granted him.... in a VULGAR display of contempt for congressional
authority AND the Constitution.
Like I said below,
Paulson was not granted such a power in the bailout bill. His congressionally-approved (if unconstitutional) power extends only to buying mortgage-backed securities.
Who cares who's calling the shots at this point? It might as well be magic 8-ball, for all the authority and wisdom of moves like this.
I'm trying to come up with a term that's big enough to describe just how outrageous all this is but don't think the English language is quite visceral enough.
~jaq
~jaq
Try "government corruption".
Try "government corruption".
= = = =
"Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job."
That means: For each job "created or saved" about five were destroyed.
But they need his signature
to make things legal and he's not going to do that without being greased.
Isn't there some way to trace payoff money? It's probably in untraceable gold though.
"Tyrants fear nothing more than insubordination"
"It's just one big club... and WE ain't in it!"
That's it.
C'mon people, we have to get that SOB out of power some way. He can still do plenty of damage in the short time he has left.
He knows people already hate him and he can't retire in peace in his own country, so what does he have to lose?
This was a huge payoff by the bankers that didn't want to bailout the big 3 with their own money.
"Tyrants fear nothing more than insubordination"
"It's just one big club... and WE ain't in it!"
The GOP mainstream still
The GOP mainstream still hasn't even repudiated him yet. What few failures they acknowledge are couched in brown-nosing. The party is not going to change.
Just a week ago, I saw a conservative website with the headline "W--Too Nice to Be President?" This is what passes for dissension in the GOP ranks.
SUPPORT OUR FOUNDERS' AMERICA
Support the Constitution of the United States
SUPPORT OUR FOUNDERS' AMERICA
Support the Constitution of the United States
Garshk!!!
What a SHOCK! Bush was only PRETENDING to be capitalist on the issue---in order to preserve what tiny wisps of purely rhetorical "free market" GOP 'principles' that hadn't already been destroyed by his God-forsaken Fascist presidency from Hell.
"You can stop grandstanding, boys---we'll take the blame for it. Republicans are dumb as a sack of rocks, anyway--and next week they'll be talking about gay marriage again on FOX."
SUPPORT OUR FOUNDERS' AMERICA
Support the Constitution of the United States
SUPPORT OUR FOUNDERS' AMERICA
Support the Constitution of the United States
As bad as TARP is,
at least the law, as written, places limits on what the $700B may be spent upon -- namely, that only troubled mortgage-based securities may be bought.
It's funny, how they can't even follow their own rules that they made for themselves only weeks ago. Not that I'm terribly surprised or anything.
~jaq
~jaq
Who would have standing to
Who would have standing to sue to enjoin the transfer of the funds if they are being used outside the congressional authorization?
= = = =
"Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job."
That means: For each job "created or saved" about five were destroyed.
Imagine that, the
Imagine that, the dictatorial President is going to instruct his non-elected Treasury Secretary to print more money, Congress notwithstanding.
Shocking!
http://www.federalfallacy.com
http://federalfallacy.com