The Bail Out Era…? 9 November 2008
Posted by marisacat in 2008 Election, DC Politics, Democrats, Inconvenient Voice of the Voter, U.S. House, U.S. Senate, WAR!.trackback

Used car lot outsized inflatable…
I should assume that some one from Detroit assumed the position in front of Nancy.. ?? The position that Paulson last held..?? On his knees before Madame Speaker..??
Reid, Pelosi Urge Treasury to Extend Aid to Automakers
By Lori Montgomery
Washington Post Staff Writer
Sunday, November 9, 2008; A01
With the nation’s automotive industry hemorrhaging cash, congressional leaders called on the Bush administration yesterday to offer government assistance to the car companies as part of the Treasury Department’s $700 billion emergency rescue program.
The call came one day after General Motors, the nation’s largest auto manufacturer, announced another multibillion dollar loss for the third quarter and said it was running out of money fast. Ford, the second-biggest car company, also reported heavy losses. Unless the government steps in, analysts warned, GM could face bankruptcy, endangering the livelihoods of about 100,000 North American autoworkers and hundreds of thousands of others whose jobs depend on the industry.
In a letter to Treasury Secretary Henry M. Paulson Jr., House Speaker Nancy Pelosi (D-Calif.) and Senate Majority Leader Harry M. Reid (D-Nev.) asked Paulson to “review the feasibility . . . of providing temporary assistance to the automobile industry during the current financial crisis.”
The letter notes that Congress granted Paulson broad discretion to use the bailout money to “restore financial market stability. A healthy automobile manufacturing sector is essential to the restoration of financial market security,” the letter continues, as well as to “the overall health of our economy, and the livelihood of the automobile sector’s workforce.”
OhKay! If we all declare ourselves bankers can we all instantly keep bankers hours? That would work for me…
A plan is in the works at the Treasury to use bailout money to take ownership stakes in a wide array of companies beyond the banking sector. But Treasury officials have indicated that participants in its recapitalization program must be financial firms subject to federal regulation. That means GMAC, GM’s auto financing arm, may be eligible for quick help, but GM itself may not.
I am working on some nickname having to do with drooling yeses as they ransack the taxpayer…
In recent days, top auto industry executives have been making the rounds in Washington, trying to shake loose federal cash from a variety of sources. And there are strong indications that Democrats, newly empowered in Tuesday’s election, are inclined to oblige.
And yes.. I did notice:
Obama’s team of economic advisers includes Michigan Gov. Jennifer Granholm (D) and former Michigan congressman David Bonior, who is considered a strong candidate for Labor secretary. With Granholm on stage with him Friday, Obama said his transition team is already working on “policy options to help the auto industry adjust, weather the financial crisis and succeed in producing fuel-efficient cars,” either under existing law or through the passage of “additional legislation.”
Bonior no doubt needs something massaged after all that support for the new dad.
And, I am left supporting red tape, in all its glory:
In the meantime, however, the automakers have gotten little but sympathy. Congress recently voted to fund a $25 billion low-interest loan package intended to help the car companies retool their factories to produce fuel-efficient vehicles that meet tough new emissions standards. But that money has been hung up by red tape. Obama and other Democrats have discussed providing another $25 billion in loans, bringing the total federal aid to $50 billion. But unless the Bush administration agrees to work on an economic stimulus package when Congress returns to Washington later this month, that money would have to wait until at least January.
From The Hill:
Pelosi and Reid on Thursday met with representatives of the auto industry, stating that they “left the meetings convinced that our nation’s automobile industry – the heart of our manufacturing sector – and the jobs of tens of thousands of American workers are at risk.”
However, while lobbying that funds be made available, Reid and Pelosi also urged that Paulson “impose strong conditions on such assistance in order to protect taxpayers and maximize the 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,” they wrote.
Maybe if you subject the automakers to an 8 on the Richter scale earthquake they might get forward looking… basically, the dirty not-so-little secret was 30 years of presumably predictable income from financing cars matched with poor R & D and reinvestment.
Maybe they can accidentally get around to extending unemployment benefits… and working out a bail out for states (we’re one of them) already about to deplete the funds for those benefits…
Can we get in line for change? Too? Even if we are near the end of the line, at least it is something..? Right?
[I am thinking of a new category for post Jan 20.. something along the lines of "Change of Life"]
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LOL There’s always privilege and ease for the insiders… I did get a kick out of this photo at LAT on presidential pets..

The 11 o’clock news here mentioned that the biggest turn out tonight was in San Diego, 10,000 marched against passage of Prop 8…
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NYT has a sort of round up piece but they include a list of promises, date and speech, interview, paid ad, etc., and original reporter who filed it.
Ominous (but entirely predictable) statistics on teen and young-adult employment at the dawn of the Great Recession…
I assume they’re talking about all 16-19 youth, not just those not on “college track.” This is bizarre to me because when I was that age, not having a job felt kind of shameful. I was obsessed with becoming employed (ie drugstore cashier – the usual summer job) and embarrassed that I hadn’t gotten the gumption to apply for jobs. My first job was at 17 – after I’d graduated high school – which felt “late” to me.
Really weird: the elderly competing with the young for McJobs.
But what about college? Expensive four-year college degrees for everyone! And green-collar jobs! And ponies too… ponies all around!
We’ve got some real problems when there is only one cattle chute that young people are herded into… four-year college degrees with onerous loans that cause debt lasting a lifetime… and everyone below that is just left behind to be utterly fucked.
We need high school educations that prepare people to make living wages. Barring that, I am hoping some of these young people learn to organize, while their “betters” in the colleges are still sleeping off their Thursday night hangovers. Then you’ll see some real change.
One more thought…
Barring that, I am hoping some of these young people learn to organize
The problem with that, of course, is that these young people don’t appear to have anything that American society values — although that would change right quick if we got into a really big war; America would need their bodies for cannon fodder.
It’s kind of hard to organize when society doesn’t want anything from you… doesn’t even want you to flip burgers.
So possibly the time is not right for organizing until these young people have demands placed on them. Unfortunately I think that day is coming, probably after 2012.
hmm I see David Brooks has a Sunday splutter entitled “I have a Dream”… think I will skip over that one, LOL not enough coffee on earth to revive me…
WSJ on the Detroit Bail Out…
think that means “next year”…
2 and 3
Well Manual Arts HSs and Polytech HSs never should have been abandoned. I am sure there are a few extant but not too many. College is fine, but it s not for everyone and there should be no shame in that. The big thing the past 30+ years was to sell a rising middle class and wealthier parents on more and more costly higher ed. And everyone else be damned. Or so it seems to me…
A huge huge loss…
Of course leaving the educational system less than a good equation gives rise to all these lousy private technical or the various types of business schools. Many of them lousy…
Our Polytechnical High School here was beautiful, a wonderful brick building adjacent to Kezar Stadium which was a wonderful ball park.. absolutely beautiful… so much so that Woody Allen used it for the opening shots in Manhattan
Community colleges help some – and we have a pretty healthy system here, never enough spaces, but it is too little.
NYS GOP looks to regroup. Boehlert gets in a word from beyond…
I do have a feeling the NYS GOP will figure it out before the national GOP does and probably will find it profitable being the “loyal opposition” for the first time in a long time. Watch this space.
Rahm looked freaked out and almost terrified on This Week. He keep going back to the beginning of sentences he’d memorized then delivered badly. He never does good on these shows (he only becomes remotely sharp on tv when is in direct conflict w/ someone), but he looked especially bad today.
One thing I found quite striking in Obama’s press conference — and having re-heard it, I find it to be even more so, — (Oh, pardon us! The following interruption is from Misty Willow, performing on keyboard i888888888888ijkkkkkkkkkkkkkkkkkkkkkkm7774), was in the Q&A quoted below.
He totally avoided the question, which was about his oft-stated campaign promise to raise taxes on those who make over 250 K. He instead spoke of the middle class tax cuts he promised, choosing to use the PAST TENSE. He said my tax policy “represented” and “provided” (2X for that one) and then he used the conditional “would” rather than “will” …
Meanwhile, over at DK, they are chirping in unison over his promises to reinstate some of Bush’s XXXtreme reversals of environmental rules, etc…
Already, it seems, they — his “progblog” supporters — are falling all over themselves to be the most successful in asking the least of him…
A piece in the NYT today about Maya Lin: Once Inspired by a War, Now by the Land
An interesting video accompanies the story.
Citing Workload, Public Lawyers Reject New Cases
Mini nuclear plants to power 20,000 homes
NYCee at 8… out of moderation… sorry for the delay…
He totally avoided the question
That is called “wiggle room”, or at least that is what a lot of the press called it…. LOL… Yeah he clearly walked it back. And, if you notice, that was the last question.. no follow up was chanced as suddenly it Was All Over And Done With.
Slick.
7
That is interesting… I fell back to sleep just as This Week came on, missed it all.
13 – They really better not put him out there speaking for that administration. He sucks at it. Stick w/ Gibbs … he can actually spoon out sweet-sounding talking points w/o looking like he trying to read the crib notes scribbled on his palm. Stephie was completely letting his go, too. The compliant press continues.
7 – interesting catch, NYCee.
Via BenSmith, iwth no link
Mark Cuban gives Teh One some advice:
The problem with this is the personality of a lot of entrepreneurs is that of a monomaniacal bully. They often will sacrifice EVERYTHING for the sake of their business, but it will be their community and their workers who will actually pay the sacrifices first.
Neat photo spread from UK Vogue:
saw my first snow flurries of the season today, walking back from the grocery. Bleh … so not ready for winter.
Crooks & Liars has the video of Rahm on This Week.
Sarah Palin blamed by the US Secret Service over death threats against Barack Obama
Blaming her for losing, instead of a shitty campaign and 8 years of criminal mis-rule by the Republican party strikes me as being as silly as blaming Nader for 2000. I also refuse to believe that she did it w/out the approval of McCain and his campaign.
It was a lot more complicated during the run than what reached (and pleased) Big Media. Secret Service could find no evidence for one of the most dispersed incidents, in PA, it was reported in one PA paper from a reporter who had attended. SS could find no recording of it nor a single witness other than the reporter. Including SS which people happily forget are at all these rallies.
One incident even Sully (who still cranks out \several Palin posts a day) said, from listening over and over to the taped evidence was not “nigger”.. forget what word he said it was.
21 – I never know what to believe about any of this stuff that comes out. I thought the threat out of CO actually sounded like the real deal, once more came out about it, but there is so much spinning, and its so impossible to know if a regional reporter has an agenda, that it’s hard to tell.
This has been popping around for 24 hours or so..handled in different ways… The Page headlined this AP report.. other reports in the print media have hidden it down at longer pieces… UK Telegraph ran it at the top of today’s page and was willing to add that it might include family planning overseas.. I take that to mean PEPFAR. They even used the word “abortion counseling”. Bono and Damon all the media entertainment types who loved to love Bush and twaddle on about PEPFAR … LOL.
Who knows.
22
I have long said that Obama camp/handlers stoked a very distasteful passive agressive use of assassination. We’re loaded with lone nuts… but he is a creature of Big Biz. He fully advocates for the Global War on Terror… I am not esp worried, any more than for any candidate or president.
I mean [cough choke strangle].. Ford, Reagan, etc.
Noooooooooo!!!
24 – I’m not worried about his ass, but more worried about federal employees in places out west and down south or forestry/interior/park service employees out in the hinterlands. I’m much more concerned w/ wingers driving U-hauls full of chemical explosive into federal buildings or a mall than I am a lone gunman on a grassy knoll. Not to mention renewed attacks on women’s health clinics.
yeah but over and over it IS about The One. They have furthered a culture of fixation.
One reason I wash my hands of it. If he manages this or that, good. But, they are in a bad spot despite all the blubber and slobber. American emotion can be very effervescent – and ephemeral. So they have to make some sort of show at the start. Disperse some down market manna.
How the long slog is with this one, The One, who the hell knows.
Is there something in the water there? Monks brawl before religious ceremony
BTW, I laughed pretty hard at the sign posted at his hotel podium yesterday. Or Friday… whenever The One graced us.
“Office of the President-elect” and with the seal, in itty-bitty-boo form, re-found. Maybe he should walk around with an American Bald Eagle on his shoulder. More flags and flag pins.
it’s CHILDISH.
John Podesta said the president can use such orders to move quickly without waiting for Congress to act, highlighting the extraordinary powers a president can wield beyond signing legislation approved by Congress.
Two imperial presidencies make a right!
Keys to the Global Imperial Meat Locker…
LOL
Colorado Streakers Arrested for Annual “Pumpkin Day” Party Run Face Could be Registered as “Sex Offenders”
This country is fucking nuts.
Angry arab… full text and he had no embedded links:
Bamford is great on Israel.
Transcript of Podesta on FOX with Wallace.
Bamford’s description of the Israeli attack on the USS Liberty, from the book “Body of Secrets”.
The attack after that on the Liberty was brutal, and our gov’t helped their friends in Israel cover it up.
Wapo on what Ob might reverse by EO … if read carefully.. there is too much element of fluff to it. Quotes come from those advocating [choke strangle] change.
But there is also this………………… (I really wanted to do other, but the Bloooooooooo Dogs held me back!)
He should at least remove the GGR…
Bamford link in moderation, I think.
An interesting contribution to Bageant’s blog:
There is some stuff in between all of that about how Obama is gonna fuck over his “progressive” supporters in favor of the corporations.
Revolutionary auto already on the road
FIFTY YEARS
OF POPULAR SONGS CONDENSED INTO SINGLE SENTENCES.
P.Z. Myers on the Mormons and Prop 8:
snip
Well the marches today are going to Catholic churches as well. A good idea. Spread the joy. And if they do turn to the black churches it should be the 4 ministers who were pictured and quoted on the last flyers… they ramped up hard the last two weeks and esp the weekend before.
But our tangled mess of evangelicals are a part of it, too…
Unless something happens to break it, it seems these protests will grow, or at least continue. Certainly there is plenty of info on line to show that the leadership on No on 8 abandoned any idea of a winning strategy. To be frank, I suspect THEM ALL, from Gavin to the CA DP to No on 8 campaign of being strategic.
They should publicise the name of Ahmanson that whacko religio nut case. LOL At the Daily Beast I read his father was the one who started Washington Mutual WaMu! originally…
To be frank, I suspect THEM ALL, from Gavin to the CA DP to No on 8 campaign of being strategic.
I agree … I think the donks helped kill it by convincing the No! campaign to not push too hard.
LOL From the Politico Mike Allen eamil:
It’s on or it’s off or he’s wiggling. One fo the three…
Petrellis has several, well! many actually!, dmaning posts on the No on 8 Campaign (and he names the individuals, one of which is Big Big Dem pollster Celinda Lake) leadership, HRW types… Salmonese, Birch etc. Plus Petrellis is not a Democrat and does nto visit nor cohabit with the many many Democratic party clubs in town.
http://mpetrelis.blogspot.com/
And OBama has been too fucking cute on all of this.
Room to let
White LGBT People Suddenly Care What Blacks Think About Homosexuality
Steve Clemons – Remove Lieberman from ALL Domestic Security and National Security Roles
I think it is appalling he does nto jsut change parties. He must feel he needs that D-Ind after his name in CT. Or something. Plus of course the party likes and in fact LOVES him. Kerry almsot wept Kerry tears on MTP a couple of weeks ago. He loves him. Jesus get real.
The R are not very happy with Hagel… but iirc he is revolving out of the senate (ugh my memory is hazy on that) Chafee left the party laready, iirc. Lugar laid low… but imo he is an Ob advisor.
Liebeman should have been shunned for campaining FOR Bush in S Florida in 04. In temples and on some stump stages. He said “Bush is better for the security of Israel and America… ” LOL I called it BIB. Bush is Better.
Gringrich and Mona Charen openly thanked him the day after election.
Speaking of religious nuts: Farrakhan says Obama ‘new beginning’
Dodd loves him some Lieberman (from Ben Smith)
Why don’t Dodd and the others understand that this isn’t about their friendships and their fucking little gentlemans’ club. Lieberman fights, and fought for, a foreign policy that is very, very bad for this country, and he did so giving cover to a winger campaign that attacks the Democratic Party’s base’s patriotism.
Good thing I abandoned that worthless party a while ago.
Ford on selling 65MPG Euro-diesel car in U.S.: Nah, Americans won’t buy it
And this is why you can’t rely on a “free” market … there is NO such thing. The market is ALWAYS deformed by choices made by people along the entire chain of transactions.
I still say they AGREE with Liebeman on almost everything. His neoconism (Europe has always openly called him a Neo con) is just a part of their Dem Neo Liberalism Invasion as Rescue. The goat to their nanny..
LOL…
well Ford sells several models of very small cars in the UK, has for years. Decades.
The New Trough
LOL So…………. who is Ob going to put in?
A true reformer? Or a Corzine, Rubin, Summers… etc.. ???
The Stranger’s SLOG blog has a couple of posts about anti-LDS protests in Seattle, with pics.
57 – different thieves, I guess.
Harry Reid Still Defending Joe Lieberman: One of the Most Progressive People Ever To Come From the State of CT
I was just reading that transcript… they are such tired fuckers.
enthusiastically supporting the murder by munition of hundreds of thousands of people, to protect a country not even your own, is not “liberal”, and I don’t give a shit that he marched in the south forty years ago.
oh I think he did it in somewhat the same spirit as Rangel did… from Rangel’s own words on the anniversary a few years ago of the Montgomery to Selma march.. he was sent down as a young pol to march. Did not know what it was all about and mostly was irritated that his feet hurt.
Now if he had been soem sheltered very very young man who grew up middle class (within the stratified confines of US society) in Harlem or Philadelphia or Chicago – I would almsot understand. But he had served in Korea.
A lot of peopel who mouth really don’t care. At all.
Reid too an asshole. Hell all of them.
nuuu thread…………………..
LINK
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