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Old 12-12-2008, 09:06 AM
 
Location: Grand Rapids Metro
8,882 posts, read 19,795,749 times
Reputation: 3920

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The U.S. Treasury has now said it will move in to shore up the U.S. automakers until congress can reconvene on the matter, maybe after the first of the year.

Treasury ready to prevent collapse of automakers - Yahoo! Finance (http://finance.yahoo.com/news/Treasury-ready-to-prevent-apf-13817217.html - broken link)

There's also talk of the White House tapping into the $700 Billion bailout if congress fails to act.

Such urgency and bold actions all of a sudden. Did someone show the White House a daunting report or something?
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Old 12-12-2008, 09:40 AM
 
Location: Grand Rapids Metro
8,882 posts, read 19,795,749 times
Reputation: 3920
The White House is in now too. Even Dick Cheney scolded the Senate in a closed door session, that walking away from the U.S automakers would be "Herbert Hoover" time for their reputation as a Party, who many claim did not do enough to keep the country from sinking into the Great Depression.

White House considers help for car makers - Yahoo! News (http://news.yahoo.com/s/ap/20081212/ap_on_go_co/meltdown_autos - broken link)
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Old 12-12-2008, 12:04 PM
 
Location: the D
347 posts, read 1,354,467 times
Reputation: 171
Looks like the finally came to their senses
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Old 12-13-2008, 09:40 AM
 
47,525 posts, read 69,521,481 times
Reputation: 22472
Quote:
Originally Posted by magellan View Post
The U.S. Treasury has now said it will move in to shore up the U.S. automakers until congress can reconvene on the matter, maybe after the first of the year.

Treasury ready to prevent collapse of automakers - Yahoo! Finance (http://finance.yahoo.com/news/Treasury-ready-to-prevent-apf-13817217.html - broken link)

There's also talk of the White House tapping into the $700 Billion bailout if congress fails to act.

Such urgency and bold actions all of a sudden. Did someone show the White House a daunting report or something?

When it comes to Bush, that man has no clue about trying to rein in spending. He sees money somewhere and he'll spend it on something. He figures he can spend all that bank bailout money now, and let Obama worry about explaining to the bank CEO's why they don't still have all of it.

The whole Bush economy has been based on spending money and worrying about how it's going to be paid in the future. Bush just wants things to look okay while he's still in the White House, he doesn't care about the potential damage.
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Old 12-13-2008, 09:41 AM
 
Location: Texas
2,394 posts, read 4,071,515 times
Reputation: 1411
Quote:
Originally Posted by DDevil View Post
Looks like the finally came to their senses
No. It just encourages them to make the same crappy cars with the same high costs.
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