Pelosi Calls for `Emergency' Aid to U.S. Automakers

[BornAgain123]

http://www.bloomberg.com/apps/news?pid=20601087&sid=aTuXKLf4nW44&refer=home

Nov. 11 (Bloomberg) -- House Speaker Nancy Pelosi said she wants ``immediate action'' to give automakers additional aid as shares of General Motors Corp. hit their lowest level since 1943.

The failure of ``one or more of the major American automobile manufacturers'' would have a ``devastating impact on our economy,'' Pelosi said in a statement e-mailed to reporters.

Pelosi said any aid to the automakers would come with conditions. She didn't specify the level of assistance she supports, but said it should come from the $700 billion Congress authorized the Treasury to use to help stabilize the financial services industry. Pelosi said she is tapping House Financial Services Committee Chairman Barney Frank to write the legislation that may be considered as early as next week..........

[antitox]

Just like a dem.

They love to throw money everywhere no matter what the reason, how the nation is affected, or what ethics are involved. If Fanny and Freddie was so critical, why is she wanting to take some to hand to the auto industry? They LOVE to divert funds. It's their routine operations in Congress including tacking on other subsidies. These people make me sick.

[mercyandgrace]

Let GM go down the tubes.

Why reward bad behavior?

Auto workers have broke the bank with their greed.

[felixthecat]

Can I have some aid too?

I'm a legal citizen and we could use the money too!

Let's ALL have a "bail out"!

Let's have a "bail out" party!

Why just limit it to big business?

Seriously, why aren't businesses no longer responsible for their own mismanagement?

What incentive is their to NOT make wise decisions if the government will bail you out?

I don't see small or medium sized businesses getting money thrown at them like this.

This is awful.

[madrush]

Can I get some money too so I don't have to pay my mortgage? I mean come on, I'm an American and I deserve it all without working for it or being responsible! Wow, just think, snooze all day! :snoopy

[LadyJ]

Don't worry your "vote for Obama" stimulus package checks should be in the mail before the new year! We really appreciate your support!

[felixthecat]

Can I get some money too so I don't have to pay my mortgage? I mean come on, I'm an American and I deserve it all without working for it or being responsible! Wow, just think, snooze all day! :snoopy

You and another hopeful, Peggy Johnson!

http://www.youtube.com/watch?v=L6ikOxi9yYk

[listening for the trumpet]

Let GM go down the tubes.

Why reward bad behavior?

Auto workers have broke the bank with their greed.

I live in Michigan, and this would devastate our local economy here. I understand our resentment towards autoworkers, as I used to be one. But to label autoworkers as greedy, I disagree. The wages they have been paid over the years has helped us to have a middle class here in Michigan. Do you want to drive down the middle class to the wages they pay at Mcdonalds? I don't think so. GM has brought down the costs, as non line workers now make around $14 an hour. That in Michigan is not much pay. The retirement costs have hurt them, along with insurance. You just can't through out the retirees. I am concerned with this: If we bail out the financial industry, and yet allow our auto industry to fail, are we not just making our economy worse? I was and still am against the bailout of Wall Street, but I see Gm paying back the loans, (just like Chrysler did). I don't see Wall Street doing that!:tsk

[NoLongerAGentile]

I mean really, this doesn't even look like a massive payoff to the union for their vote. I was looking for something really obvious, like the automotive bail-out to go towards paying union worker salaries and benefits... Oh wait... Sorry this looks just like a union payoff :mad:

[faith]

The auto industry is a staple of the American economy. It is deserving of a bailout if anything is. Maybe we can keep some of the dominoes standing, and keep some Americans working. You can be political or practical on this, whatever suits your taste, but practically speaking, this would be a good thing for our people.