And so it has come to this: The Bush "Administration" will get credit for saving the economy. Way to go, Harry Reid...
MarketWatch is now reporting the story.
http://www.marketwatch.com/...
More later...
Update 1: The money quote:
"Because Congress failed to act, we will stand ready to prevent an imminent failure until Congress reconvenes and acts to address the long-term viability of the industry," Treasury spokeswoman Brooklyn McLaughlin said in a statement.
I blame this on the failure of the Senate Majority Leader to actually lead, as much as I blame the dirty, rotten, America-hating scumbags who will break the entire world economy in order to break the UAW. SHAME ON THEM ALL!
Update 2: The White House line, as delivered by Bush "Administration" Spokesmodel Dana Perino:
"A precipitous collapse of this industry would have a severe impact on our economy, and it would be irresponsible to further weaken and destabilize our economy at this time," Perino said. "Under normal economic conditions we would prefer that markets determine the ultimate fate of private firms."
Perino also said the government wouldn't offer a blank check.
"While the federal government may need to step in to prevent an immediate failure, the auto companies, their labor unions and all other stakeholders must be prepared to make the meaningful concessions necessary to become viable," she said.
I've heard talk from the Republican Senators blocking the bailout that UAW workers should take immediate paycuts to put their wages in line with the implants. But there was no talk of cutting CEO salaries so that they were in line with what CEOs in Japan, Germany and the rest of the world make. Hmmmm...
Yes, I will continue to hold the epic failure of Harry Reid to actually LEAD to account. He sends the message that he doesn't believe in the Democratic Agenda enough to actually git 'er done. I've watch Republicans go to the mat for crap issues like the infamous Easter Sunday Middle of the Night Terri Schaivo bill signing. Republicans also don't give a rats ass either if a majority of the American people are on the other side of the issue. Why can't Reid, even when he has a solid majority of the people behind him, get the job done? Why won't he "go to the mat" when the issue is as pressing as the entire US manufacturing economy? Please don't tell me that he is "only one vote". He's not paid to just provide his one vote. He's paid to FUCKING LEAD! He's paid to "git 'er done" and doing whatever it takes. I am sick to death of his "roll over and die at every opportunity" strategy...