RSSAll we want for Xmas is $17.4 billion
At least Santa had the presence of mind to buy a Japanese-made sleigh.
Happy holidays, auto industry! Today President Bush announced that the federal government will be making loans to troubled car giants General Motors and Chrysler, in the hopes of keeping them afloat. Bush said that he made the decision to put the burden on taxpayers due to the recession, but that under other circumstances, he would have let the companies fail due to their poor decisions. No word on whether Bush then took a few moments to contemplate the irony of chastising people for being miraculously absolved of bad decision making.
The truth is, we're pretty excited about the auto bailout. Not because we drive (we live in New York) or because we know anything about the industry (we write comedy for the Internet, so get back to us when there's a bailout of the alcohol industry), but because we've spent so long trying to figure out exactly what his story is all about that we're relieved to not have to talk about it anymore. There was testimony and then the bailout was going to pass and then it wasn't going to pass and now it's being announced again... Frankly, it's all beyond us. The emergency loans are coming and we can go back to our families for the holidays without having to worry about it any more. Thanks for the early Christmas gift, Mr. President, and God bless us, everyone!
At least, until March, when Barack Obama has to decide whether or not the car companies have met the reorganization standards set in the bailout bill, and then we start this all over again.
Filed under: auto bailout, car bailout, auto industry, bailout, recession, president bush, george w bush, recession spending, general motors, chrysler, automakers
posted 2:31 pm on 12/21/2008
You're now a Fan of davidwayneosedach.
posted 3:49 pm on 12/19/2008
You're now a Fan of Jick20761.
The industry is safe for the moment and perhaps 10 million jobs.
The UAW didn't have to sell out and so much of the middle class taxpayer
is reprieved for the time being.
Now lets get some new technology to the market place that wont drain the economy,at its height 44 billion in q2 in 2008 in exported oil.
Electric cars are simpler and should outlast their older cousins by many years,they will be more roomy inside,pollute far less in toxic greenhouse gases and noise.
With the absence of money to the middle east,peace should prove realistic after the initial recession and border wars die down
as they will be forced to diversify and hopefully will become leaders in solar energy and water de-desalinization.
There's a nice bit of legacy,finally.
posted 1:17 pm on 12/19/2008
You're now a Fan of DirtyJerz.
You're now a Fan of larry278.