Republicans to Bush: No TARP for Detroit
Isn't it ironic? Many of those Southern senators who voted against the bailout come from states that have given substantial subsidies to auto manufacturers -- FOREIGN auto manufacturers who operate plants in their states.
From politico.com: "Seven conservative Republican senators urged President Bush today not to use money earmarked — in the generic sense, at least — for the financial sector to fund an auto-industry bailout. The request follows a plea yesterday from House Republicans calling on Bush to similarly lay off the TARP funds.
"Last week, the Senate rejected a legislative bailout after the United Auto Workers (UAW) union refused to agree to changes necessary to help the Big Three automakers become competitive. According to news accounts, your administration is considering providing TARP funds to the automakers without requiring the UAW and the automakers to make sufficient reforms. Absent such restructuring, we do not believe any amount of money will succeed in saving these companies," write the senators.[..]"
Conservative Republicans want the UAW to collapse, period...and if it takes a collapse of the auto industry to make that happen, well then, so be it.
Actually it's a grand slam -- they get to dismantle the last effective union in the country, they create a workforce of serfs, and they get a handsome bonus from their foreign masters.
They don't seem to worry about ruining the economy so badly that no one will be able to save it.
