BREAKING: McConnell opposition could doom auto loan package

[Truth Teller]

The chief Senate Republican came out against a $14 billion rescue of General Motors Corp. and Chrysler LLC, raising the chances that Congress will reject help for automakers on the brink of collapse.

Sen. Mitch McConnell, R-Ky., said the bill does not force deep enough reforms at the automakers before lending them $14 billion, and that saving Detroit's automakers would set the wrong precedent.

"Even if we grant these companies would fail without taxpayer help, we would still have to ask ourselves whether the proposals before us achieve the goal that everyone claims to embrace, namely the long-term viability of ailing car companies," McConnell said. "In my view, it does not.


"The best route for long term viability for auto companies may be a rocky one," he added in a reference to bankruptcy filings by the automakers. "Government help is not the only option. It may not be the best option."

...

http://www.freep.com/article/20081211/BUSINESS01/81211037

[Beetwasher]

1. Fascinating

n/t

[spindrifter]

2. I hope he can bear the thought that he is ruining the

chances for millions of American jobs.

[Truth Teller]

4. Careful

you might give him a woody with talk like that.

[amborin]

3. "reforms" === totally busting the UAW, make no mistake

[Blue Meany]

9. That's only part of it...

They also like the idea of using bankruptcy to get the companies out from under their pension obligations. And finally, bankruptcy would hurt the big three but it would help the foreign car makers who happen to have located their factories in Southern states, the last bastion of Republicanism. So... wan't not to like: you kill three birds with one stone.

[skeewee08]

5. And they call themselves "The Christian Party"

I can tell you this is not being "Christ Like" they will be hurting a lot of people right now such HYPOCRITES!

[kentuck]

6. This decision could send this already reeling economy...

into a tailspin. Even before this year is over. Republicans are reckless and irresponsible to play politics at this time. They will have to answer for their votes.

[jwirr]

7. They are asking to join the Hoover Club - people who stood by and

watched a nation fall into a depression.

[Birthmark]

8. So...

The Republican Party, whose only real stronghold is the South...is going to oppose this bailout?

The defeat of the bailout will destroy or cripple NASCAR...which happens to be about the biggest thing ever in, um, THE SOUTH!

Sounds like a bright move to me...if they want their entire constituency to be small enough to fit in one basement.

[MannyGoldstein]

10. The Auto Workers Are Little People

So why should Congress waste their beautiful minds on something like that?