Jude 2

Well Bush bailed out GM and Chrysler and had the gall to say this is what the American people wanted. I believe it is a 13 billion dollar "loan".

I don't think he has the Constitutional authority to do this. Congress has the purse strings not the president.

Is there a lawsuit coming?

He does have the authority because it is coming out of the "bank bail out" he is just redistributing the money.
Also congress wants this to happen they fear they will not get voted in again if they vote yes.
Sadly many Americans think this is necessary because if the big three fail it will hurt us more then we want to admit. I am not saying I am for it but Bush did it so congress would not take the heat for what they knew needed to be done....

So he is in bed with the dems?

Congress authorized $700 billion to bail out financial institutions not automakers. Big difference! With this precedence he can write himself a check and Cheney one too.

Full Quiver wrote:So he is in bed with the dems?

Congress authorized $700 billion to bail out financial institutions not automakers. Big difference! With this precedence he can write himself a check and Cheney one too.

republicans and Democrats were voting yes for this, just not enough to pass. The ones voting NO wanted Bush to do this (they may not come out and say it , but he has NO more elections to win)

If you are correct then by him doing it he is indeed in bed with the dems.

At least 10 dems voted against the Senate bill and many Republicans did.

Either way, the TARP money is for banks, specific types of banks, not car companies.

Full Quiver wrote:If you are correct then by him doing it he is indeed in bed with the dems.

At least 10 dems voted against the Senate bill and many Republicans did.

Either way, the TARP money is for banks, specific types of banks, not car companies.

Not saying I disagree with you at all but I firmly believe this was a "back door" deal by Dems and republicans to get it done with out effecting them and their re-election.

I blame republicans and Dems... Yet if it shows they could have made it without the bailout the over sight committee can take the money back. They can also reduce salaries and sell the jets...

What would have happened if this did not take place? Are we really ok with the big three going down? Congress on both sides wanted it done but did not want their name to it.

American car companies have came and went further back than you and I can remember. Bad businesses fail!

Who bailed out Studebaker or AMC?

Is he a sell-out? I don't know. I liked Bush in the early years, but there were some things that gave me pause as to his intentions.

As to the bailout, I say let them (and all of the other hurting industries) file for bancruptcy and reorganize. In the end they will streamline and, the ones that survive, will be stronger and more stable. What doesn't kill you makes you stronger, right?

Throwing money at them is the worst thing we can do. THere was no incentive for Freddie Mac and Fannie Mae to be fiscally responsible because they (rightly) assumed that they would be bailed out.

This bail out is closer to $7 trillion than the $700B they told us (the 700B didn't include Freddie Mac, AIG, Fannie Mae, and all the others). And they pulled a bait and switch, not using the $700B for housing, and then later talking about getting more approved to do what they didn't do with the $700B.

The whole thing, including the world-wide coordinated effort, is a scheme designed to ruin the world economic system so that they can present a new one.

When my wife came to the U.S. from the old U.S.S.R. in 1989, the ruble (probably artificially) was worth $1.37. In a few short months, it was 6 rubles to the dollar. A couple years later? 1 dollar = 6000 rubles, their economy was in an absolute mess.

Their solution? In 1998, they printed "new rubles" that would each be worth 1000 old rubles. Magically, the ruble was worth 1000X more than yesterday: 6 to the dollar. But the fact was that they did not help the economy, they only eliminated zeros.

Since this didn't help the economy, six months later, they had to devalue the currency AGAIN, and the ruble lost 70% of its value. Today, its about 28 rubles to the dollar, and history is fixin' to repeat itself.

THIS CAN AND WILL HAPPEN HERE!! BE PREPARED!! THE PRICES OF STUFF ISN'T GOING UP, THE VALUE OF THE DOLLAR IS GOING DOWN! AND WHEN THEY GET DONE PRINTING MONEY FOR THE BAILOUT, YOUR SAVINGS ACCOUNT WILL HAVE LOST HALF ITS VALUE!

Don't get caught up in the double-speak. If God doesn't help us, ...

Washington sold us out a long time ago. This is one of those rare occasions when circumstances force politicians out of their back offices to reveal what's going on all the time on a smaller scale. One of these days, maybe, we'll realize that most of our politicians are traitors. But we probably won't realize, because we ourselves are traitors along with them, insofar as we care about our immediate economic well-being over constitutional principle or long-term economic viability.