Will the WH auto deal look like Dems want? Or Republicans? Hmm, gee...
by David Waldman
Wed Dec 17, 2008 at 06:45:03 AM PDT
Cross-posted from Congress Matters.
First hint from the White House on its terms for bailing out the auto makers with TARP money:
Q Hi, Dana. Two topics, please. On auto legislation, from the White House perspective, how important is it that concessions be part of any prospective deal -- concessions from the automakers, the union, or other stakeholders?
MS. PERINO: Well, as we made clear, if we're going to use taxpayer financing to assist the automakers, all stakeholders are going to have to come to the table and be willing to show that they are capable and willing to make really tough decisions about the way forward, that they want -- we need them to become viable, competitive firms in the future. And in order to do that, concessions are going to have to be made by stakeholders.
So that's one of the things that we're in communication with them about, and that we're considering as we weigh all of our options in the wake of not passing legislation last week.
Q So that's being considered, but it's too soon to say that that would be required as part of any deal?
MS. PERINO: I don't think that there's any possible way that this President would agree to allow taxpayer financing to go towards firms that are not willing to make tough decisions to become viable and competitive in the future. I just do not think that will happen.
No one could have foreseen...
If the Treasury swoops in with TARP funds, what authority do they have to impose restrictions on the money -- i.e., could they make the loans conditional on securing the very union concessions rejected last night?
And now, this morning, the AP reports:
The White House and Treasury Department were in talks with Sen. Bob Corker, R-Tenn., who has been seeking big union concessions in exchange for rescue money, on the terms and structure of a possible bailout, said a senior GOP congressional aide.
On the other hand, look how the AP describes Corker's accomplishments:
Corker came close last week to striking a deal with the United Auto Workers union for a $14 billion bill that would have forced the carmakers to bring their wages and benefits in line with those of Japanese auto companies in the U.S. by a specific date in 2009. The measure collapsed after the UAW refused to agree to wage cuts that quickly as Senate Republicans demanded.
How, exactly, did he "come close" to striking a deal last week? He proposed wage and benefit cuts, and the UAW said no.
By those terms, I can come close to "striking a deal" with Scarlett Johansson, too.
On the other other hand, Harry Reid and Dick Durbin think Corker's just splendid:
Majority Leader Harry Reid seconded McConnell’s assessment. “I’ve been extremely impressed with Bob Corker,” says Reid, a Nevada Democrat. Illinois Senator Dick Durbin, the No. 2 Democrat, says Corker did a “magnificent job.”
So who knows? Deal? No deal? Magnificent? Asshat? We'll have to wait and see how this history gets written, though of course "we'll all be dead."
Magnificent!
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