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December 08, 2008

More Money to be Shoveled into Bottomless UAW Hole [someone]

Despite public opinion and, uh, the laws of economics, the taxpayer money giveaway continues. Bush, of course, is all for screwing us over, suggesting that a deal may happen today with Congress voting tomorrow.

Unsurprisingly, the "bailout" includes plans for the feds to run the auto industry:

The emerging plan could include a Cabinet-level oversight board and a provision to require immediate payback of the money if the overseers decide the companies are failing to take steps to overhaul themselves. That board would be composed of Cabinet secretaries from the departments of Treasury, Energy, Labor, Commerce and Transportation plus the Environmental Protection Agency administrator to oversee a broad auto industry restructuring.
Bush wants an auto-money-repayment czar instead of a whole bureaucratic board. I'm hardly reassured.

Update: Redstate notes that Senator Corker has a bailout idea that's actually sensible.


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posted by xgenghisx at 11:05 AM

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