Bush changes mind, may save auto giants

[Christopher]

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.

read more at http://www.politico.com/news/stories/1208/16523.html

[DrScreed]

I would like to help him change his party affiliation! I would rather him be a Dem with conservative security policies.:rolleyes:

[Christopher]

I heard some pundit say today that now Bush really is acting like a dictator, all of the sudden the left is cool with it.

He has less than no right to give any money to the UAW auto makers. What a strange time we live in.

[DrScreed]

Yes and Sen Reid is so happy that his friend, Pres. Bush is taking the steps to save the auto industry (for three more months).

[Plimpton]

Yes and Sen Reid is so happy that his friend, Pres. Bush is taking the steps to save the auto industry (for three more months).

Who will be next in line? Newspapers? Or maybe they will wait for Obama to pay them for the fine PR efforts they did on his behalf in the election.

[DrScreed]

Who will be next in line? Newspapers? Or maybe they will wait for Obama to pay them for the fine PR efforts they did on his behalf in the election.


I was going to say Obama, but Bush wants to reach across the "isle" so I could not even guess...oh wait, Bush will give money and the will carpool back with the auto execs and ask for more.:(

[XXX]

this is a part of the problem i have with the lame duck president being able to do anything at all after the election. in this time frame, all they do is, attempt to make their time look better. very few good things come from the man on the way out at this time.

[Jennifer]

He could extend these bailouts to me and I'd think the was the best thing since sliced bread!!

[XXX]

He could extend these bailouts to me and I'd think the was the best thing since sliced bread!!


which is what i think the majority of the american people are hoping for.

[Jennifer]

which is what i think the majority of the american people are hoping for. Maybe I'm wrong or maybe I'm just simple minded but it seems to me if they would bail out the american people WE could then choose who to bail out according to who we chose to do business with.

[Christopher]

Who will be next in line? Newspapers? Or maybe they will wait for Obama to pay them for the fine PR efforts they did on his behalf in the election.

The news media already thinks it's a branch of government and guaranteed to exist.

Maybe I'm wrong or maybe I'm just simple minded but it seems to me if they would bail out the american people WE could then choose who to bail out according to who we chose to do business with.

This would have been cheaper. Sending each homeowner 150K to pay down their mortgages and re-fi what's left with the companies that didn't do the sub-prime mortgages would have gone a whole lot further to stabilize the economy and create a class of free people that didn't exist before. Oh, wait....

[Aaron]

This would have been cheaper. Sending each homeowner 150K to pay down their mortgages and re-fi what's left with the companies that didn't do the sub-prime mortgages would have gone a whole lot further to stabilize the economy and create a class of free people that didn't exist before. Oh, wait....

Hey...What about those without mortgages? Why do those who jumped into a mortgage get free $$?

[Jennifer]

Hey...What about those without mortgages? Why do those who jumped into a mortgage get free $$? Should go to all taxpayers. Help some pay down existing mortgages and help others acquire mortgages!!

[Christopher]

Hey...What about those without mortgages? Why do those who jumped into a mortgage get free $$?

I would prefer they would have done nothing. If they had to do something, helping out individuals would have been a whole lot more fair than what they did/are doing.

Besides, if you don't have a mortgage, now is the time to buy a house. They have plenty of free money out there to buy some very undervalued property. A decent credit score can get you a mortgage less than 6% and I bet you could even find a some government program to cover your down payment.

I guess my thinking is that I would rather my neighbor who works for a living get a small hand up rather than a few in the aristocracy get a huge handout.