Sunday, November 09, 2008

More Bailouts For Industries The Government has Destroyed

The Government Regulations and Democrat Union Thugs have destroyed the big 3. Never fear though the TAX PAYER will keep them going.

Nancy Pelousy this weekend called on the Treasury Department to consider assisting the ailing US car industry through the $700bn financial rescue plan enacted last month.

Following meetings with the big three carmakers – Ford, General Motors and Chrysler – on Thursday, Harry Reid, Senate majority leader, and Nancy Pelosi, House speaker, appear increasingly convinced of the need for large-scale government intervention to aid the industry.

“We left the meetings convinced that our nation’s automobile industry – the heart of our manufacturing sector – and the jobs of tens of thousands of Americans are at risk”.

Of course the money will com with strings: “Were you to determine that the automobile industry is eligible for assistance … we would urge you to impose strong conditions on such assistance in order to protect taxpayers and maximize potential for the industry’s recovery. An automobile industry that is forward-looking and focused on ingenuity, competitiveness, and the creation of green jobs for the future is essential to its long-term viability,” Ms Pelosi and Mr Reid wrote.

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