GT500-07 Posted November 12, 2008 Report Share Posted November 12, 2008 Congressional Democrats are pushing legislation to send $25 billion in emergency loans to the beleaguered auto industry in exchange for a government ownership stake in the Big Three car companies. House Speaker Nancy Pelosi, D-Calif., and Senate Majority Leader Harry Reid, D-Nev., hope for quick passage of the auto bailout during a postelection session that begins Monday. Legislation being drafted by Rep. Barney Frank, chairman of the House Financial Services Committee, would dip into the $700 billion Wall Street rescue money, approved by Congress last month, for the auto aid. http://news.yahoo.com/s/ap/20081112/ap_on_go_co/auto_bailout Link to comment Share on other sites More sharing options...
ChipBeck Posted November 14, 2008 Report Share Posted November 14, 2008 Congressional Democrats are pushing legislation to send $25 billion in emergency loans to the beleaguered auto industry in exchange for a government ownership stake in the Big Three car companies......House Speaker Nancy Pelosi, D-Calif., and Senate Majority Leader Harry Reid, D-Nev., hope for quick passage of the auto bailout........Legislation being drafted by Rep. Barney Frank Gentlemen, Isn't this peachy. None of these three is qualified to run a convenience store, but then again neither was Roger Smith or Jack Nasser. Nancy Pelosi's husband manages to bring home the bacon as a high dollar lobbyist. It's amazing how effective he's been with his wife channeling billions of federal dollars to his clients. Harry Reid has made a killing in Nevada real estate. The guy is a wizard, he's always the first to know where new federal highways along with their overpasses and interchanges are going to be built and somehow he's able to scoop up the land in the path of such progress at dirt cheap prices using his partners money of course. Barney Frank has managed to cut himself in on all kinds of business deals. The most interesting was probably the male homosexual prostitution ring his gay lover was running out of their mutual condo. Barney of course said he had no idea this was going on and had he known he would not have approved of it. No House ethics investigation required for this, let's move on. We seem to have all the expertise gathered together here that will be required for a quick turnaround of our domestic automobile industry. Problem solved....... it's as good as done. Chip Link to comment Share on other sites More sharing options...
GT500-07 Posted November 14, 2008 Author Report Share Posted November 14, 2008 Democrats hunt for support for auto bailout Senate Democrats pressed ahead on Thursday with plans to vote next week on a $25 billion emergency loan plan for U.S. carmakers as the auto industry and business groups readied a lobbying onslaught to overcome GOP opposition. Senior Democrats are drafting legislation that would carve out part of the $700 billion Wall Street bailout for loans to the three major U.S. auto companies in exchange for a government ownership stake in the companies. http://biz.yahoo.com/ap/081113/auto_bailout.html Link to comment Share on other sites More sharing options...
JeffIsHereToo Posted November 14, 2008 Report Share Posted November 14, 2008 This is no longer about the "Big 3", it's about 1.3 million jobs! The loss of these companies will shoot the unemployment rate to m more than 10%. Then the real snowball starts. Link to comment Share on other sites More sharing options...
Boss Doctor Posted November 14, 2008 Report Share Posted November 14, 2008 Why do I feel like we're being blackmailed? Link to comment Share on other sites More sharing options...
JeffIsHereToo Posted November 14, 2008 Report Share Posted November 14, 2008 Why do I feel like we're being blackmailed? We are! We let these companies run wild and now they have a gun at our head. Link to comment Share on other sites More sharing options...
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