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

Originally posted at Caffeinated Thoughts.

This entry was posted on Wednesday, December 17th, 2008 at 1:32 pm and is filed under Economy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.