blog.heritage.org - 12/19/2008
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This morning the President announced that his Administration, acting unilaterally after Congress declined to intervene, will bail out the auto industry to the tune of $13.4 billion now, another $4 billion in February, and who knows how much thereafter.
What a terrible proposal!
First of all, ...
politico.com - 12/19/2008
nytimes.com - 12/19/2008
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nytimes.com —
A bailout for Detroit translated into a bounce
for Wall Street. Stocks rose in early trading on...
Friday, minutes after President Bush announced plans to shore up the auto industry with an infusion of government money for General Motors and Chrysler , ...
(more)
Stocks Rise on Auto Bailout
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Bush bails out automakers, and the wingnuts do their thing
Crooks and Liars —
... a responsible course of action," Mr. Bush said.
"Under ordinary economic circumstances, I would say 'this is the price that failed companies must pay' and I would not favor intervening to prevent the auto makers from going out of business," the president said. "But these are not ordinary circumstances."
Of course, the wingnut faction of his party is seriously pissed. Michelle Malkin wants someone to file a lawsuit to prevent it from proceeding, while the Heritage Foundation folks are just gnashing their teeth.
Because, of course, their ...
The Detroit Bailout:
The Volokh Conspiracy —
... ). Hayekians will recognize this as constructivist attempts to replicate the knowledge of time and place, with all the problems that implies. Andrew Grossman has more on "Bush's Awful Auto Bailout" here . Andrew has had several good posts on this issue over the past week or two.
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"Auto bailout dead."
althouse.blogspot.com 12/20/2008 — "Negotiations ended, no deal.... Until next year. Corker tried to make a deal with Dems, UAW wouldn't make concessions, so it will die on cloture vote with GOP opposing. Vitter held the line too, objecting to quick vote, forcing more debate. He was ...
Obama statement on Bush bailout —
First Read 12/19/2008
From NBC's Mark Murray and Domenico MontanaroObama's transition office released the following statement from the president-elect: "Today's actions are a necessary step to help avoid a collapse in our auto industry that would have devastating ...
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