Maybe I’m too cynical but I can’t get it out of my mind that the Big Three (minus One) auto manufacturers first asked for $34 Billion, and ultimately said they could do with a rock bottom number of $12 billion. Congress authorized the maximum $15 billion loan, but the Senate voted no.
Now Prez Bush, concentrating on his “legacy,” appears to be riding to the rescue on his Texas steed offering TARP limitless funds.
So doesn’t this mean that, instead of the maximum loan amount available ($15 million) under the previously approved bailout, the Senate’s “nay” vote will permit the automakers to be eligible for a much higher amount of money under TARP, which has no limits?
Is it possible that the Senate Republicans were in cahoots with Bush all along and this was planned to help their automaking crony CEOs?
I never believed that story about the auto guys making sacrifices like selling two of their private jets to satisfy Congress. Yeah, right — like they couldn’t instantly lease their jets back.
What’re we, stupid?
Or am I not only cynical but paranoid?