Senators Reach Bipartisan Deal to Aid U.S. Automakers
By xfahctor
@xfahctor (14118)
Lancaster, New Hampshire
November 20, 2008 11:45am CST
Well, whether we wanted it or not, there it is.
http://bloomberg.com/apps/news?pid=20601087&sid=akrSzA_lwOrw&refer=home
Nov. 20 (Bloomberg) --
A group of U.S. senators has reached a bipartisan agreement on aiding U.S. automakers, said an aide to Democratic Senator Carl Levin of Michigan......
5 responses
@newtondak (3946)
• United States
20 Nov 08
It appears what they are proposing is the same thing that the White House has been saying all along - to let them use the $25M already allotted for them to revamp factories to build fuel-efficient cares to instead pay their bills so they can continue to operate.
http://www.foxnews.com/story/0,2933,455407,00.html
@piasabird (1737)
• United States
20 Nov 08
"My fear is that you're going to take this money and continue the same stupid decisions you've made for 25 years," said Rep. Michael Capuano, D-Mass.
EXACTLY!!! And why do they need to change when they keep getting propped up by the taxpayers?
@newtondak (3946)
• United States
20 Nov 08
This is very true - they evidently have more than the $25M in past due obligations to their suppliers.
@evanslf (484)
•
21 Nov 08
I thought the deal hadn't been struck and that they had to go back to the drawing board and come up with a viable rescue plan before any bailout would be released? And I hope this time that Congress and the White House ensure that there are no rewards for failure, and that means the CEOs of these companies must resign should they receive any bailout from the govt.
@piasabird (1737)
• United States
20 Nov 08
Good grief! How long before they ask for another one? Greedy union and greedy CEOs and we the taxpayer foots the bill.
@spalladino (17891)
• United States
20 Nov 08
The fat lady didn't sing. They're not getting a blank check...or any check for that matter. At least not right now. They need to come up with a plan first. I'm glad the House is using some common sense this time and not just handing them a big bag of money.
@lilwonders456 (8214)
• United States
21 Nov 08
Well it looks like they are at least going to try and give the big three a chance. They have to come up with a plan on how they are going to use the money and still stay viable in the market. I am interested to see what they come up with and how much it is going to cost.
Too bad they did not do that will all the other companies they have bailed out.
