Dem leaders want Bush to help auto industry »
Posted By TechnologyExpert 1 year, 1 month ago in Political NewsDemocratic leaders in Congress asked the Bush administration on Saturday to provide more aid to the struggling auto industry, which is bleeding cash and jobs as sales have dropped to their lowest level in a quarter-century.
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TechnologyExpert
I am Editor-in-Chief at Alice Hill's RealTechNews (http://www.realtechnews.com). I also have my own blog (Tech-Ex) at http://TechnologyExpert.Blogspot.com. Finally ...
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Dionys1 year, 1 month ago
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How is this not socialism? The government steps in every time the Automakers are about to fail and provide them with money to pay their workers and 're-tool' to make gas-guzzling monsters that break down within a year.
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The Dems are wrong on this. As much sympathy as I have for the auto industry workers, bailout money will most likely go to CEOs for their retirement packages and greedy retired workers who want more than they're entitled to.
The auto companies have either failed or almost failed something like six times in my lifetime. Obviously their business model is *wrong* in some fundamental ways.
It's time to let them collapse, go bankrupt, fall into ashes so that some bright phoenix can arise and find a new direction for the transportation industry in America.
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Endoscopy1 year, 1 month ago
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Try again nikki.
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The Carter created CRA for housing loans to minorities was put on steroids after the Obama trained ACORN lobbied to congress starting in 1990 and had the legislation passed in 1992 to put CRA on steroids and some other banking regulations changes. Then came the housing bubble that the Republicans tried in 2003 through 2006 tried to fix for Fannie and Freddy. The housing popped in 2006 and the paper that was backed by mortgages was devalued by the dropping current housing prices. Money gone from the financial institutions. Jobs lost and others threatened. Democrats refused to allow the fixes to be put in place before the house of cards collapsed.
With $4 gass the Democrats still have the same energy policy. It is more important to protect the environment from drilling, building refineries, and nuclear power plants. Other places in the world are doing those things without that much impact to the environment but Americans are too stupid to know how to do that according to Democrats.
You are so biased in your viewpoint especially since you have no concept of what goes on here.
Democrats created this mess and then blame it on the Republicans.
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nikkibabe1 year, 1 month ago
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Don't blame UAW now. It was there also during auto industry boom. It is the gas prices that brought the industry down. Blame the Bush and Iraq invasion.
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It evaporated all oil for food Sadam was dumping in the world markets that kept gas at $1.50 or less.
UAW was still there, right?-
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nostalgia1 year, 1 month ago
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Their legacy costs are through the roof
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Did you read the article??
"Automakers already want an additional $50 billion in loans from Congress to help them survive tough economic conditions and pay for health care obligations for retirees"
Time to let the auto companies file for bankrupcy and reorganize
Maybe then they will get effective new leadership
Business as usual with the car companies is only doomed to fail
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