White House May Tap Wall Street Fund for Autos

[Hissyspit]

Source: Associated Press

White House may tap Wall Street fund for autos
Bush administration ready to use $700 billion fund to help ailing industry

updated 17 minutes ago
WASHINGTON - With Congress gridlocked and the economy floundering, the Bush administration declared Friday it would step in to prevent the “precipitous collapse” of the U.S. auto industry and the disastrous loss of hundreds of thousands of jobs sure to follow.

A day after the sudden demise of rescue legislation in Congress, General Motors officials were talking with the administration and the Federal Reserve about how carmakers could still get the billions of dollars they say they need to survive. The talks included conditions that automakers would have to meet, said GM spokesman Greg Martin.

The administration said no decisions had been made on the size or duration of the new bailout plan, or what type of concessions might be demanded from the struggling automakers, their workers, stockholders or others.

Read more: http://www.msnbc.msn.com/id/28166218/

[DJ13]

1. Hey Bush, I have a radical idea

Make the car companies give you the same concessions you asked from the financial sector.

0

Zero

Nada

Here, take it!

Please, just take our money, go to a spa, relax!

[BeatleBoot]

2. Go hunting in England AIG!

And here's another $ 84 billion - No strings attached.

Not even a question from Congess.

[BelgianMadCow]

3. Heeeey! Lookie now! Now it's the Wall Street Fund

(TM)

how honest

[JNelson6563]

4. Thinking of his legacy.

Even he must know how wildly unpopular he is. He at least got a hint of it after the 2006 elections as shown by how quickly he threw Rumsfeld under the bus after those elections. He's probably thinking he'll be the guy known for saving the US auto industry. Team Bush knows if the the big three go down the toilet (subsequent to the current swirling 'round the bowl) on top of all the other horrors, there will be n'ary a sliver of redemption for his already quite dismal legacy. I think they may see this as their last shot at anything but "The Bush II years" as synonymous with "complete, unmitigated disaster".

But that's just my guess.

Julie

[hay rick]

5. Suspicious minds think alike.

Made the same kind of legacy remark over dinner tonight. I was thinking more along the lines of he didn't want "Chrysler/GM bankruptcy" hanging on the wall between his other disaster trophies, Katrina and Iraq. $14 billion is a small price to pay for that cold comfort...

[PFunk]

6. Dont be fooled. This is Bush in full "Save whats left of my Leagacy" mode.

No more no less. Unfortunatly it's too little, too late and it will burn both him and the repugs.

[KoKo]

7. OMG! Expecting Chimp to stand up so he doesn't look like Hoover?

You gotta be kidding. Bush was WORSE THAN HOOVER...and he Prides himself on being "CALIGULA II!" There's nothing that man would do after he's pissed on America except to let out a LOUD LINGERING FART!
as he slinks out of the White House he's trashed.

[sarcasmo]

8. It's a little to late. I heard today on the local news here in Detroit that they are shutting down

Most of the GM production for the first three months, if it is true, the Depression is here.