It seems leading Senators have come to an agreement concerning a bailout for the auto industry after all. I hope the full Senate votes it into oblivion where it belongs. But of course if it’s a stupid idea, they’re bound to pass it. Like they did the 700 billion dollar bailout that has achieved absolutely nothing but to drive us further into debt.
An auto industry source said the deal would use money from the $25 billion Congress made available to the automakers in October for fuel efficient vehicle programs. Speaker Nancy Pelosi has adamantly opposed using this money for anything but its intended purpose. To attempt to please Pelosi, under this deal, the Congress would come back in January and replenish the fund for fuel efficient vehicles. This deal could potentially put Pelosi in the difficult position of either caving in or being responsible for killing the bailout. She is scheduled to talk to Senate Majority Leader Harry Reid shortly.
What simpletons these politicians are. Why do we ever vote for any of them?
Nancy Pelosi could give you a good run for your money any day. Support for creative industries is not such a bad thing for governments to do. The UK government has ignored its industries, and now the bankers have done their worst, there is very little to fall back on. The French and Germans support and value their industries which will see them through lean times. But if governments don’t prosecute corrupt bankers, the same will happen again.
By: Geoff Hudson on November 20, 2008
at 4:26 pm