December 6, 2008
Interim Rescue of Automakers Moves Forward in Congress
By DAVID M. HERSZENHORN
WASHINGTON — Faced with staggering new unemployment figures, Democratic Congressional leaders said on Friday that they were ready to provide a short-term rescue plan for the cash-strapped American automakers, and expected to hold votes on the legislation during a special session next week.
Details of the rescue package were not immediately available but senior Congressional aides said that it would include billions of dollars in short-term loans to keep the automakers afloat at least until President-elect Barack Obama takes office.
Ending a weeks-long stalemate between the Bush administration and House Speaker Nancy Pelosi, senior aides said that the money would likely come from $25 billion in federally subsidized loans intended for developing advanced fuel efficient cars
- rest at www.nytimes.com/2008/12/06/business/06auto.html?_r=1&hp
Looks Like Auto Companies to Receive Short-Term Loans
Discussion in 'News & Current Events' started by KenH, Dec 5, 2008.
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Democrats will give them the rest after Jan 20, 2009.
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Revmitchell Well-Known MemberSite Supporter
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Yeah, how dare the unions stand up for workers down through the decades and prevent employers from paying workers next to nothing, no benefits, and forcing workers to operate in deplorable workplace conditions.
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Revmitchell Well-Known MemberSite Supporter
The Unions are just as corrupt as the company execs. And their excessive benefits play a major role in this mess.
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Well, Pastor Mitchell, I bet the unions feel horrible that you feel that way about them and fear that their very existence is dependent on your opinion of them. :laugh:
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The UAW's existence is dependent on congressional democrats.
That's why they will give the big 3 the money.
It would cost democrats millions of dollars each election cycle if the UAW goes down. -
Unions are important for every working man and woman in the United States. Without their efforts through the decades we would all be working as not a whole lot more than slaves.
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Revmitchell Well-Known MemberSite Supporter
Sounds good so long as it is not government mandated. But the truth is even then corrupt people will find a way to corrupt the system. -
It is good to see the Bush administration and Congress finally come up with a package that will help the struggling auto industry and help keep more workers from becoming unemployed. During this downturn in the economy, more unemployed workers is not a good thing.
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The auto company's are in dire trouble and I can't say which is good or bad. It seems like we are "Damned if we do, and damned if we don't."
What a fix to be in even if we, the people was not involved.