Bush changes mind, may save auto giants

Bush changes mind, may save auto giants

www.politico.com

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., Ford and Chrysler.

(visit the link for the full news article)

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.

"Under normal economic conditions we would prefer that markets determine the ultimate fate of private firms," Perino said in a statement. "However, given the current weakened state of the U.S. economy, we will consider other options if necessary – including use of the TARP program — to prevent a collapse of troubled automakers. A precipitous collapse of this industry would have a severe impact on our economy, and it would be irresponsible to further weaken and destabilize our economy at this time."

So the show is not over yet.

The senate said no to the bailout/loan but can Bush over ride their decision?


www.politico.com
(visit the link for the full news article)

So much drama for what's been worked out well in advance . . . this whole thing is soooooo contrived I'm going to puke.

The US governement will give $30 billion loans to Mexico, South Korea et al but won't bail out their own people.

Give me a break . . . this is a stink-assed PR move to give Bush a bit of spotlight on his way out.

It was a done deal from day one.

I smell a con going on.

He "changes his mind", does that sound like the actions of a decisive leader? Or has he given up that idea now he's on his way out?

Or, did he (and by that I mean "they") use this as another tool to ratchet up anger and chaos, knowing all the while that he could threaten Martial Law again and get them to do whatever he wants?

I think its yet another way of keeping the stock market from bottoming. Every time we hit the 8300 marker something amazing occurs, someone says something that sounds great, ect. ect. You guys know, you keep up on the economy. Is it just me or does this smell fishy?

I guess they finally offered GB and his cronies a nice package deal in kick backs? (idk) The banks were loaned or 'given' plenty of money to save the auto companies, but supposedly gave themselves big bonuses "to stay on" instead? The rats have just run to a different part of the ship. No matter what they do; it's still wrong.

Here's some additional content on this matter.

"White House to Consider Use of Funds to Aid Automakers"

www.nytimes.com...

Amazing, once again the will of the people is usurped.

Subverting Congress is something he's really good at...I'm not at all surprised by this. Bunch of thieves and they want us to stay calm? Screw them, hold on to you rifle, you'll need it later.

Bush is just a puppet and it doesn't make any difference if he decides to start WWIII, not that I think it will happen - too many people thinking positively about the new world we are creating, it's just the puppet entertaining the 'kiddies in the mall'

If you want the puppet show to end you have to remove the puppeteer, not the puppet as they are easily replaced.

Now puppeteer is like a peer therfore there are many and they have many shows going on all over the world, now if they are all taken out simultaneously then, vwalah! No more ridiculous hypnotic puppet show.

The auto giants and economy will eventually implode and therefore 'the time of the technician' will emerge and we will be able to build a sustainable world and have technology that regular people can not even fathom....

Well at least share holders in these companies are happy about this. You have to wonder what the point of Congress is if Treasury can just unsurp their authority.

Yet another indicator that as far as the PTB are concerned the tax-payer will pay for the unsustainability of the automakers idea of a business model...,

www.abovetopsecret.com...

Now even the Treasury is ready to 'pop' in and shore up there failing enterprise.

Amazing how the big-boys take care of their own, no?

In a way I'm glad he may bail. It will put off the inevitable for a bit longer. Might not hit now until maybe winter next year well into the new administration, then you can blame it on the Democrats.

There is also a rumor going around the TARP money cannot be used to bail out any business but is only resigned for financial institutions. Then again, the government rarely worries about things being legal. But if this comes out, it will prove to be an obstacle.