Apprently US Automakers DONT have Congressional Dems on a Leash

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!

Steve Perez

is a young political operative, and life-time resident of Anaheim. His parents immigrated to the US illegally in the 70's and settled with their respective families within 1 block of where he currently resides. Since then they've become US Citizens, home-owners, and completed their education. Steve takes a special interest in federal politics, the Gay Right's Movement, and corruption in the political process. Most recently, he helped elect Lon Hurwitz to the Superior Court Bench, as the campaign's Field Manager and Campaign Coordinator. 

  5 comments for “Apprently US Automakers DONT have Congressional Dems on a Leash

  1. Revan
    November 20, 2008 at 9:00 pm

    You just have to love the free market. Companies only concerned with their self interests. What could go wrong?

  2. Heather Pritchard
    November 20, 2008 at 9:25 pm

    I think it’s more complicated than just bailing them out. Right now, the workers are being scape-goated for the high cost of American cars and it’s not fair. These CEO’s still took their private jets to their testimony! It’s just not black and white.

    Read this…

    http://www.dailykos.com/storyonly/2008/11/20/32150/218/119/663984

  3. Bladerunner
    November 20, 2008 at 9:45 pm

    Thanks your your take and link Heather. It’s an important perspective. Note the GOP was not complaining about inefficiencies and bloated saleries in the banking industry when voting to bail out Wall Street.

    While automakers don’t have Democrats on a leash, I would wager that congressional Democrats don’t want to have the backbone of what remains of industrial America to be broken on their watch. It’s appropriate to attach conditions to loans or grants(more should have been attached to funds going to the financial industry) but lets not kid ourselves—the congressional Republicans(outside the Midwest)have no desire to lend a helping hand to Detroit. The $25 billion program was money already designated to go to Detroit so the Republicans were’nt giving up anything to shift the withdrawl from the $700 billion fund(which would have taken money away from their financial industry buddies). There was no plan for $700 billion for the auto industry. And Steve, Harry Reid IS a congressional Democrat.

  4. Steve Kim
    November 21, 2008 at 6:24 am

    Before further “enabling” the failed American CEO culture of greed, the entire executive structures should be removed.

    If I screwed up this bad in my field, I would definitely be banned and possibly jailed.

  5. RichardfromHB
    November 21, 2008 at 10:43 am

    The economy also has some tricks in mind for the corporations. OC commercial real estate vacancies are more than 17%, some malls are experiencing cash crunches, and a loss of cash flow in the commercial RE sector may free up some local political races from being a rush for the RE bucks. Check it out at:
    http://www.latimes.com/business/la-fi-fdic19-2008nov19,0,2337262.story

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