U.S. Treasury Standing By to Begin Nationalization of Big 3 Automakers
December 12th, 2008Fear not, Comrade! The U.S. Government’s Ministry of Shitty Automobiles will begin drawing up plans for the Zaporozhets Liberty soon enough.
Via: AFP:
The US Treasury said Friday it is “ready” to avert the collapse of the Big Three US automakers until Congress can address their problems, a spokeswoman said Friday.
“Because Congress failed to act, we will stand ready to prevent an imminent failure until Congress reconvenes and acts to address the long-term viability of the industry,” Treasury spokeswoman Brookly McLaughlin said.
The announcement came shortly after the White House said it would consider tapping a 700-billion-dollar financial rescue fund administered by the Treasury “to prevent a collapse of troubled automakers” after lawmakers failed to pass an alternative.
“Given the current weakened state of the US economy, we will consider other options if necessary — including use of the TARP program — to prevent a collapse of troubled automakers,” said spokeswoman Dana Perino, referring to the Troubled Asset Relief Program conceived to help financial services firms.
A 14-billion-dollar auto bailout effort collapsed in the US Senate late Thursday.
The House of Representatives on Wednesday had approved the White House-backed bill, crafted by Democrats, to rescue the ailing automakers.
The measure would have required the manufacturing giants to engage in restructuring to ensure their long-term survival and repayment of the government monies or face bankruptcy proceedings.
Usurpation of the will of the people.
Has all the stench of
a constitutional crisis if you will.
Who gave them the right to go over everyone’s heads?
“Because Congress failed to act, we will stand ready to prevent an imminent failure”
Treasury spokeswoman Brookly McLaughlin.
Brookly?
Sounds like a PC silver spoon
in mouth since birth patronage/nepotism recipient for life name if I ever heard one.
It will be a shock to me if any of the Tarp goes to auto. Heh, heh, heh. They’ve most likely wired all kinds of funny money to Japan, China, Saudi Arabia. All the players that buy up U.S. debt, supply oil, etc. Yessiree, these auto makers aren’t playing the correct song on their guitars, so no one wants to hear the music.
I don’t know about the will of the people. I think a lot sense that things are just now warming up, that a lot more very weird shit is yet to come. Like now there is only one not Wal-mart grocery store in our town.
Gotta do some yoga so that you remember to breathe and stretch, rather than clench your jaw just waiting for the next hammer blow.
I for one would welcome the auto companies being nationalized. During WWII they were taken over to make tanks, and other war machinery. Nationalized under Bush would be sweet. Once the US owns the auto companies we can – if someone has a freaking vision- turn these lame good for just more exhaust belching auto into production lines for mass rail transit. Not my idea buy I like it. If someone with brains, vision and whatever it takes to change a culture from a single driver in a car belching Bs multiplied whatever million times across the US, or the rest of the world for the matter, well then, would that be change good enough? Better happen soon though. We’re melting here one minute, freezing the next.
Big full moon and there’s enough astrology going on that it should be making all of us squeak like a mouse almost caught in a trap. Maybe there’s enough love force out there that it cancel’s – or at least neuters all of weevils.
If we are going to nationalize the auto, make them real autos. They need to plug into your house and charge it all night and be ready to go 500 miles the next morning, at Fl 490.
After Fl490 you can switch to impulse and travel around the solar system with a little practice and a lotta time. But if you know where to look there are a lot of opportunities in retrieving certain items.
Free movement around your own solar system is a birthright of sentient beings, not just the agencies. Some of Rutan’s designs are viable low orbit vehicles. A little tweaking and backing by We The People could get ‘er done. Stop buying 14 mpg crawlers.