Archive for the ‘auto’ tag
Stupid, stupid folks. I understand there are parts of the bill that members of the Senate, mostly Republican, did not agree with, but have these same people been paying attention? There is no time to “go back to the drawing board.” There is no time to retool the bill and then spend more days discussing and voting, discussing and voting, ad nauseum. The auto companies may not even last until the new year.
Why can we not get important measures accomplished at the state and national levels? Partisanship, I would argue, plain and simple.
South Carolina Sen. Lindsey Graham, who played caddy for John McCain through much of the presidential election, said automakers
“… need to make significant, structural changes before they receive federal assistance and those changes should be made in the private sector, ” he said. “No one wants to see these companies fail and workers displaced. I feel for the car dealers and their employees who are being hurt by years of bad decisions made by the leadership of the Big 3. But I also realize that unless major, fundamental changes are made in the way the Big 3 operate, they will likely find themselves right back in the same situation.”
That’s all well and good. And if it happens a second time, no one will be waiting in line to bail these folks out. But right now, not only the fate of the industry (in an incredibly shaky economy), one that exudes the very concept of “Americana,” is in jeopardy, but thousands of jobs in that industry and other associated fields. Sen. Jim DeMint, also of South Carolina, seemed even more adamantly opposed.
DeMint came out early and harshly against the plan, joining four other conservative senators in calling for a business solution, not a “political solution.”
“This is a business and financial problem,” DeMint said, adding that existing bankruptcy laws are designed to allow companies to come out of these situations healthy.
DeMint’s cohort Sen. Richard Shelby of Alabama told reporters he intended to slow the legislation down, adding, “No one knows what’s in it.” — The Associated Press
First, how can we deal with an auto industry that may or may not survive a ‘pre-packaged bankruptcy?’ Do we have some assurance that the industry could survive bankruptcy given the negative stigma associated with filing Chapter 11? We have nothing of the sort. Second, why on earth is Sen. Shelby claiming “no one knows what’s in it (referring to the auto loan bill)?” The text is right there in plain view. I quote a portion of it in a previous post. I, in my limited capacities, was able to access it. Is Shelby not? I certainly hope he read it before voting on it. Is he too lazy or unconcerned to bother with its details? To claim that “No one knows what’s in it” is at best, sarcasm, and at worst, a lie.
Bush officials made clear that if Congress didn’t act, the White House would have to step in to save Detroit from collapse with funds from the Troubled Asset Relief Program, according to the sources familiar with the conversations.
Heck, in this regard, Bush and his administration have their heads on straight in standing in opposition to his own party. What are folks in the Republican camp thinking? Are they just being ornery? Are they upset about the forthcoming Democratically controlled House and White House and are just playing naughty? What’s the nature of their abject dissent? Perhaps that’s a subject for a subsequent post.