GOP senators break from White House, oppose auto bailout

GOP senators break from White House, oppose auto bailout

WASHINGTON (AP) — Top Republican senators said Sunday they will oppose a Democratic plan to bail out Detroit automakers, calling the U.S. industry a “dinosaur” whose “day of reckoning” is coming. Their opposition was a bit more stark than the position put forth Monday by the White House, and raised doubts about whether the plan will pass in this week’s postelection session.

Democratic leaders want to use $25 billion of the $700 billion financial industry bailout to help General Motors, Ford Motor Co. and Chrysler, while the White House stressed Monday that aid should not come from the rescue plan.

Sens. Richard Shelby of Alabama and Jon Kyl of Arizona also said it would be a mistake to use any of the Wall Street rescue money to prop up the automakers.

“Companies fail every day and others take their place. I think this is a road we should not go down,” said Shelby, the senior Republican on the Senate Banking, Housing and Urban Affairs Committee.

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GOP senators break from White House, oppose auto bailout

America is being turned into the biggest SOCIALIST nation on earth. Good job George Bush, nearly ALL Dems and ALL the RINOs.

Once upon a time bad business just went away, the American consumer didn’t buy the product and a company went bankrupt, and that was a good for ALL business, weeds out the losers and the only one that really got hurt was the guy that couldn’t run his business.

Today, bad management, corrupt business execs and thieving union officials rape a company blind, steal from the company and the consumer, bankrupt the business and cry to the MORON in the White House to “Oh please bail us out oh wise and powerful Moron in Chief, if you don’t, America is going to suffer, Americans will be hurt if WE don’t get our $20 MILLION dollar Christmas, uh, wait, $20 MILLION Winter Festival bonus!”

So, the Moron in Chief goes to all his *little morons* and tells em that they have to bilk the American taxpayer out of nearly 1 TRILLION dollars so all the bad businessmen, corrupt execs and thieving union hacks can be saved, thus saving the average American on the street from a fate worse than death.

I wonder?? Why can’t WE, the AMERICAN people get a bailout?? The average guy on the street kind of bail out?? Mom and Pop neighborhood store bailouts?? The ‘salt of the earth’ Americans?? I am guessing that if Wal-Mart called the Moron in Chief and said “Hey, we need money”, the Moron in Chief would hurt himself making sure that Wal-Mart gets ALL the money it needs.

And for what it’s worth, I can tell you how to trim $10 BILLION a month off of the U.S. expenditure list almost immediately, but that is another story…

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14 Responses to GOP senators break from White House, oppose auto bailout

  1. Here I propose what might be a dumb question. Just how much, and to how many of those above did Unions give money to in order to keep them elected?

    Follow the money…

  2. Right on the money – so to speak – Fred, where is the bailout for the little guys who actually make the businesses and the NATION tick?

    Can you just imagine what about $300K to every family would do for the economy? Just think – no need to bailout mortgages, people would have money for buying cars from dinosaur corporations, and spending in general would be good for the retailers this Christmas.

    whadabunchamorons…

  3. LET THEM FAIL. Banruptcy will force restructuring and that is what’s needed. At this point the Big 3 are actually Big Unions who occasionally produce some mediocre cars.

    BZ

  4. LoneRider says:

    BZ,

    I agree with about 70 to 90% of what you type, but I simple can’t agree with the latter half of the above statement.

    All of the car companies produce their share of lemons. Toyota has plastic, paint and other problems, Honda has had transmission issues, try to see if you can find a Nissan 350/G35 coupe owner who can get more than about 5k or so miles out of a set of front tires. Those are just some of the recent problems off the top of my head.

    20 years, yeah, the big three could not compare in terms of quality, but since then, the Honda and Toyota bean counters have got their hands dirty. Simply put, their quality slipped, and at least GM and Ford quality has risen significantly.

    Now to your first point, a back room deal where Ford and GM get financing help after their bankruptcy induced ro-org, now that may work.

    My Dad is retired Ford. A lot of his savings is still in Ford stock, and I would hate to see him take a larger knock that he already has, there is a lot of waste in Detroit. The unions leadership is scary, they only care as far as their own jobs are concerned, and sadly they don’t have the balls to explain to their membership the realities of the situation.

    I am in the midst of a great internal battle, free trade definitely has its pluses, but so does equality. In equality I mean, Import duties and regulation have to be equitable. Can we legislate trade equality, where if you want to send over $1T in goods to the US, you need to accept $1T in goods?

    Yeah, I know, I am a dreamer.

    cheers,
    Tom

  5. TexasFred says:

    Worst *lemon* I ever saw was a Buick my folks bought back in the 70’s… I personally have NEVER had a *lemon*, I am a GM owner and always have been, Chevy and Cadillac, and the quality was never the problem for me…

    I think the management has done at least as much damage, along with the Unions, as have ANY perceived *shabby* cars…

    I am just damned tired of US having OUR money taken and GIVEN to some bunch of asshats that can’t make a profit on their own…

  6. TexasFred says:

    And, look at the Japanese auto makers with plants in America… They are going like gangbusters, and making tons of money and a QUALITY product as well…

  7. BobF says:

    Saw yesterday that Chrysler was suppose to pay top executives 30 million in bonuses. How do you pay bonuses for failure?

  8. TexasFred says:

    Well Bob, in OUR world, you don’t, in the world of LIARS, charts, crooks and politics, you get a bonus regardless…

  9. Carl Andrews says:

    I wouldn’t mind this so much if I’d gotten dinner and a movie first.

  10. TexasFred says:

    I wouldn’t mind this so much if I’d gotten dinner and a movie first.

    And a generous smear of K-Y

  11. LoneRider says:

    I hate to say it, but it is a full circle jerk, sorry for that picture for all of you who are sensitive. But the executives would not get away with what they where doing if it was not for the board of directors of those corporations; the boards are supposed to be the checks and balances I thought.

    But it goes a step further, what about the people who buy stock in those corporations. I wish I knew the numbers, but how much of the stock in North America is owned by private induhviduals, retirement plans and 401k’s and such.

    I am still trying to figure out how are derivative based investing is better than the dividend based investing of 20 or 30 years ago?? But as I have said before, I guess I am too simple for all that.

    So if we all pulled our money out of corporation, mutual funds and the like of badly run non-divided paying stocks, maybe the companies would be forced to change?

    Yup, I’m dreaming again.

    cheers,
    Tom

  12. TexasFred says:

    sorry for that picture for all of you who are sensitive

    Tom, don’t sweat it, *sensitive* types here are called QUEERS.

    And to be fair, LIBBERS too, and FAUX Intellectuals, same thing pretty much, in any case, they don’t last long here, they don’t matter, here or in life as far as I am concerned.

    If the PC monkey is on their back, they can tote their PC ass to some lefty libber faggot blog… :P

  13. MissBeth says:

    Savage came up with a reasonably good idea today on this–don’t bail them out, force them into a reorganization bankruptcy, reduce all the outrageous salaries and bennies that benefit the unions–AND impose a $5000 tariff-passed on to the consumer–on each and every foreign vehicle brought into this country. Trims them down and gives Americans incentives to buy American.

  14. So – what about the “foreign” brands that are built on US soil?

    What about the “domestic” brands that are imported from England or Germany?

    My wife’s Camry was built in Tennessee – and it gets better mileage than a comparable-sized “American” car (we’ve been averaging 32.4 mpg – and it’s a 2005), seats four plus the driver (three plus the driver and a car seat for MEG), and has plenty of pep for the combo driving we do. The mileage would be better if we did more highway driving, but in Phoenix even highway driving can be worse than stop-and-go.

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