$50 billion of bailout going to employee bonuses
What a DISAPPOINTMENT he is turning out to be!
"Auto emergency loan talks gain" by David M. Herszenhorn, New York Times | December 18, 2008
WASHINGTON - .... Treasury Secretary Henry M. Paulson Jr. is effectively taking on the role of "auto czar"
.... The negotiations continued yesterday even as Chrysler said it would idle all of its factories for a month or more, extending an annual holiday-season shutdown that normally lasts about two weeks. Chrysler's finance arm also warned dealers yesterday that a shortage of cash may force it to temporarily stop making loans that many dealers rely on to purchase inventory.
GM had already disclosed extensive idling of its plants in Canada and the United States during the first quarter. Other automakers, including Honda and Ford, have set cutbacks in production as the entire industry copes with plummeting demand for vehicles amid the deepening recession.
In an interview yesterday on CNBC, Paulson said the auto bailout talks were now his primary focus, but he declined to say if the money promised by the White House would be disbursed before Christmas. "The autos will get the money as quickly as we can prudently do it," he said....
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Which was about 24 hours or so....
You STILL WAITING for your MORTGAGE BAILOUT, aren't you, 'murkns?
CHICAGO - .... As Obama spoke in Chicago, the White House said it is considering "orderly" bankruptcy as a way of dealing with the desperately ailing US auto industry. President Bush, asked about an auto rescue plan during an appearance before a private group, said he had not decided what he would do but spoke of the idea of bankruptcies organized by the federal government as a possible way to go.
He gave 'em the $$$ instead! Nice deke, MSM!
Obama did not immediately comment on the idea. He also declined to say whether he would support a decision by Treasury Secretary Henry Paulson to tap the second $350 billion installment of the $700 billion financial bailout program. Major auto companies are pleading for emergency aid, which could come from that fund.
Paulson GONNA GET IT! Thanks for the "change," 'bamer!
"I think it's important that the Treasury, the Fed, and all of us do whatever's required to make sure that our financial system is stable and secure," Obama said. But he added: "We cannot afford a collapse of our financial system. Main Street can't afford it." He said he would evaluate any Paulson signals about what is necessary.
More broadly, Obama blamed regulators for the financial debacle, saying that they, along with congressional committees, "have been asleep at the switch."Americans, as they watch their investments tank, are frustrated that "there's not a lot of adult supervision out there," Obama added.
Still isn't!
Schapiro, who would be Obama's top Wall Street regulator and investor protector, said investor trust "is the lifeblood of financial markets." She called for tough enforcement action by incoming regulators.
Of course, blogs reporting she has a conflict-of-interest re: the Madoff s***, but so what, right? This is "change!"
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WASHINGTON - .... In announcing his decision at the White House, Bush reversed his opposition to tapping the $700 billion financial rescue fund for such a loan, and enacted through his executive powers what Congress failed to pass earlier this month....
Congress a glorified check-writing outfit, that's all.
Obama praised Bush's decision....
That's CHANGE?
Shortly after Bush announced the loan, Treasury Secretary Henry Paulson said he would soon ask Congress to release the second half of the $700 billion financial rescue fund.
Here that, 'bamer, you piece of shit?
Mary Schapiro, head of the Financial Industry Regulatory Authority, was nominated yesterday by Barack Obama in Chicago to lead the Securities and Exchange Commission. She called the trust of investors ''the lifeblood of financial markets.'' (Scott Olson/Getty Images)
Looks like he did!
Democrats have been critical of Paulson's handling of the first $350 billion of the financial rescue package, saying that Paulson failed to buy up toxic mortgage assets as he initially promised. House Financial Services Committee Chairman Barney Frank, a Newton Democrat, said he expected Paulson to ask for the second $350 billion in early January. Congress would have the right to reject the request within 15 days after it is sent to Congress.
You know, ONCE AGAIN we were LIED TO!
They told us it was for mortgages: WRONG!
They said there was oversight: WRONG!
Said there was restrictions: WRONG!
And they told us Congress had to APPROVE the second half of the money -- turns out, Paulson ALREADY HAS ACCESS!
You think THIS CONGRESS or the NEXT is going to BLOCK HIM?
Ha-ha-ha-ha-ha!!!!
Frank said he expected Congress to insist that some of the money be used to help prevent home foreclosure. The second portion of the rescue program would also be the source of the $4 billion slated to be loaned to GM and Chrysler in February as part of the deal announced yesterday.
FUCK OFF, Barn, and I mean that in the literal sense, jack-off!!!!!!!! Tired of your horseshit mouth!
Frank said that the combination of help for automakers and homeowners - combined with the expected stimulus bill - will go a long way to jump-starting the economy.
It just piles right out, don't it, Barn?
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And look who else is helping out:
WASHINGTON - .... The Canadian prime minister, Stephen Harper, announced that the federal and Ontario governments will provide the Canadian subsidiaries of the Detroit Three automakers with $3.3 billion in emergency loans. "Canadian taxpayers expect their money will be used to restructure and renew the automotive industry in this country," Harper said yesterday.
WTF?
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Still think the North American Union and the Amero aren't on the way?
