I wrote about the fact that this bailout appeared to be bring out the worst “corporate influenced” nature out of our congressional leaders, and apparently they agree.
The meeting between the leaders of the Big 3 and the house got off to a bad start when CNN reported that the CEO’s had all arrived on separate corporate jets. Almost immediately during questioning, democrats began to seek specific examples of how these car manufacturers planned on remaining viable in today’s volatile market.
This showing by house democrats differed greatly from Majority Leader Reid’s plan which revolved around a emergency 25 billion dollar loan, with negotiation taking place on the additional 700 billion supplemental. Seems like this is a perfect example of our Senators maneuvering under the impression that they are insulated from public opinion because of their lengthy terms. Public opinion as cited by this article, indicates that a majority of taxpayers believe that the US auto industry brought this on themselves. As such, lawmakers sent the Big 3 back home, and asked them to return with viable business plans in hand. It was seemingly understood that the Big 3 had better convince the American People that they and not the masses deserve dibs on the first round of at least 2 bailouts currently planned. Score 1 for democratic integrity!