Well the Senate killed the Automaker bailout, but the Bush Administration wants to keep hope alive. The automakers want $14 Billion to help them with keep going through just one quarter next year. My question is what then? They can’t/won’t restructure in order to cut expenses – will they be back again with hat in hand? Yes. Giving them a bailout will do nothing to solve their fundamental organizational problems.
With the $14 Billion bailout being killed, the Bush Administration is now talking about using the $700 Billion bailout passed a little while ago. President Bush himself said that:
“I’ve abandoned free-market principles to save the free-market system.”
HT: Michelle Malkin
Domestic Divapalooza says its time to call the White House since this this is basically in his hands. The number is (202) 456-1414