Election is over. Let the corporate welfare continue!!
It didnt' take long before the Democratic leaders decided to follow the Republican lead by extending the financial bailout to Detroit. I expected it but I am still disgusted by it.
Why is Detroit hurting? Because they are fat, dumb and lazy. Because the only vehicles they make money on, gas guzzling trucks and SUVs, are bad for the country and the planet. Because they dont make cars people want and they dont have battery or hybrid technology for the future. Because the world changed and they didnt. The Big Three are not victims; they are getting what they deserve.
The Big Three deserve to die. We need to send in Dr. Kevorkian not Pelosi, Reid and Obama. Corporate welfare at this point is just life support which will only delay the inevitable.
We need a 21st Century car company not three relics of a bygone age. A company that has alternative fuels, high mileage, electric motors, carbon fibers. A car company for the future not the past.
Based on the last 20 years of failure from Detroit, the only way to get there is to let the current companies die and let someone build a new company from the ashes. Especially if we are going to use tax dollars to do it. If the federal government is going to get involved in cars and nationalize the auto industry, then cars must be in our national interest and we should expect returns that reward the country not just the corporations.
Pelosi, Reid Press for TARP Aid for Auto Industry
Wall Street Journal
October 9, 2008
WASHINGTON -- House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid sent a letter to Treasury Secretary Henry Paulson urging him to assist the Big Three auto makers by considering broadening the $700 billion Troubled Asset Relief Program to help the troubled industry.
The two top Democratic leaders in Congress are likely to make the request in a letter to the White House, which could be forwarded as soon as Saturday afternoon, said individuals familiar with the matter. President-elect Barack Obama is generally supportive of the appeal, but at the moment is moving on his own track to assist the industry, these individuals said.
Mr. Obama is scheduled to meet with President George W. Bush at the White House Monday.
The White House has been reluctant to broaden use of the $700 billion program, which was created by Congress just ahead of the election to deal improve credit flows and calm turmoil in financial markets incited by the downturn in the housing economy.
"It was not set up for anything else," said Bush spokesman Tony Fratto, noting the only assistance authorized by Congress for the auto industry is a $25 billion loan package meant to help the industry retool to meet higher fuel economy standards.
