Bush backs federal aid for Big 3 without fuel strings
He wants Congress to allow carmakers to use $25B in energy funds to shore up finances, Dems push access to $700B bailout
David Shepardson / Detroit News Washington Bureau
President Bush wants Congress to move quickly to grant Detroit's Big Three automakers access to a $25 billion federal loan program by not requiring that the money be used to upgrade factories to build more fuel-efficient vehicles
Let me say this loud and clear, "NO F**king way" should we give the auto industry a loan without need for improvements - so how about NO LOAN AT ALL if that is the way it's going to be. NO LOAN. NO improvements means continued government assistance for the Big three automakers, who don't ever need to show a profit. For every time Bush talks about energy independence from the Mideast, for everything Bush talks about renewable energy, you know that Bush is nothing but a big, fat liar. This is bullshit, no way, no way, now way in HELL should we giving automakers a loan under that circumstance. They don't want to improve, than they just need to go out of buisness.
UPDATE: It is now being reported that the Big 3 Automakers don't want accountable for the business loans they receive, and both you and I know how easy it is from them to file bankruptcy, and they have filed bankruptcy many times over the last few years. This from Bloomberg. com.
Earlier today, Ron Gettelfinger, head of the United Auto Workers, said General Motors Corp., Ford Motor Co. and Chrysler LLC need U.S. financial assistance before President-elect Barack Obama takes office on Jan. 20.
Nancy Pelosi is telling US Automakers this:
Nov. 15 (Bloomberg) -- House Speaker Nancy Pelosi said U.S. automobile manufacturers need to restructure "to ensure their long-term economic viability.''
Of course "restructure" is a bit of a loaded term, so does that mean re-tool or NOT?
Hey, maybe restructuring means to fire everyone at the top for change and replace them all with people who will turn a dime within one year, or leave with NO severance package. That would work wouldn't it?