Grand Theft Auto Bailout: Bush
There were high hopes when Hank Paulson told a business forum in New York Thursday night “orderly” bankruptcy might be the best solution. Instead, meh…
The White House has decided to come to the rescue of General Motors and Chrysler by providing them with low-interest loans, ABC News has learned. Under the plan, which could be announced as early as this morning, the auto giants will be able to stay afloat into the new year.
And the news just broke that Bush is giving the Three Little Pigs a $17.4B loan…$1.4B more than the one Republican’s took a stand against. And this from Amanda Carpenter, “$17.4 billion with the ‘promise’ they make money ‘soon.’“
You can read all my other “Grand Theft Auto Bailout” thoughts here. Cue Bush Derangement Syndrome in 5..4..3..2..
UPDATE: As per Morticia626, JBdotC Senior Twitter Correspondent,
“Auto companies will have to restructure by March or they will have to go chapter 11. (loans would have to be paid immediately)…It sounds like mini bankruptcy without the courts. Bush said they must restructure…They must rework the pensions and wages (unions have to make concessions).”
This is just one bloggers opinion, but it sounds a lot like the concessions the unions wouldn’t make last week.
UPDATE DEUX: Awesome!
UPDATE TRES: A slight dissent from Hugh Hewitt:
Senate Republicans have got to be prepared to fight for sobriety in January and February, and their principled positions of this month allow them to do that. President Bush’s intervention provides his successor with all the options available…This is cautious, responsible governance by a responsible president seeking to make his successor’s transition as smooth as possible.
UPDATE VIER: Ford says no thank you. Scott Monty, head of social media at Ford, has been using Twitter to reach out to those of us against the bailouts, to try and find a happy medium. I think he’s also managed to create a few more future Ford customers in the future. 
Thanks for the sanity among the insane. I noticed that you have retained you sense of humor in all this so I thought I share something I found.
“The Grand Theft Auto Detroit” shirt. http://www.tshirtbordello.com/p413/Grand-Theft-Auto-Bailout-Detroit-T-Shirt/product_info.html
I guess they still have their humor too.
Good luck in the new year.
Allison.