White House and Treasury to Once Again Ignore Congress

White House and Treasury to Once Again Ignore Congress

Posted by Matt Hawes on 12/12/08 07:32 AM
Coming on the heels of the auto bailout's defeat in the Senate, the White House and the Treasury are announcing their intentions to take money from TARP and act anyway. If it hasn't been apparent to mainstream conservative voters that legislative check and balances mean nothing to this administration, it should be clear to everyone now. The UAW announced this morning that they want the Treasury or the Fed to act "for the good of the country," yet they refuse to renegotiate their contracts in an attempt to have their cake and eat it too. Their "woe is me" defense in their press conference just doesn't cut it anymore. GM and Chrysler refuse to consider the bankruptcy option because they are afraid that consumers won't buy cars from bankrupt companies. Do they really expect more people to buy cars just because the car companies have been given a loan to prop up the unions and continue their unsound business practices? Ironically, more customers may stay away out of anger over watching the heads of these companies literally begging at the federal trough for your money.