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November 20, 2008

Auto Bailout "Compromise" Reached, By Which We Mean Bailout Supporters Win

I didn't understand the dispute over whether the already approved (and already spendthrift) $25 billion in loans to create more energy efficient vehicles should be used for the bailout, versus carving out $25 billion from the TARP bailout. Wasn't it $25 billion either way?

Well, no, Ed Morrissey explains. The bailout promoters wanted both that $25 billion in energy-efficiency-promoting loans and a fresh $25 billion in new loans for a sweet, sweet $50 billion haul.

So, we "won" -- they won't have their fresh $25 billion in loans, but they get the $25 billion already authorized, which will be "restructured," i.e., turned into a general slush fund for any purpose.

Yayyyy....?

posted by Ace at 02:11 PM

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The bailout promoters wanted both that $25 billion in energy-efficiency-promoting loans and a fresh $25 billion in new loans for a sweet, sweet $50 billion haul. So, we "won" -- they won't have their fresh $25 billion in loans, but they get the $25 billion already authorized, which will be "restructured," i.e., turned into a general slush fund for any purpose. Yayyyy....? posted by Ace at 02:11 PM \| Access Comments <script language="javascript" src="http://adserver.adtechus.com/addyn/3.0/5235/1131537/0/170/ADTECH;loc=700;cookie=info;target=_blank;key=key1+key2+key3+key4;grp=[group]"></script><noscript><a href="http://adserver.adtechus.com/adlink/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" target="_blank"><img src="http://adserver.adtechus.com/adserv/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" border="0" width="300" height="250"></a></noscript>	Recent Comments JackStraw: ">>Yeah, right AfD wants safety and security for it ..." grammie winger - cheesehead: "He wasn't a Muslim, then? Just a guy who liked to ..." fd: "Mostly peaceful Muslim. Mostly. ..." FenelonSpoke: "He wasn't a Muslim, then? Just a guy who liked to ..." FenelonSpoke: "Posted by: publius, Rascally Mr. Miley (w6EFb) at ..." Gary Cooper: "Timeanddate is very good, you can put your exact l ..." 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