Dec 05 2008
Auto Industry Gets Reprieve
$25 billion originally approved to help the auto makers switch to more fuel efficient cars is now being considered to be shifted to help bail out the industry with a vote expected next week.
With unemployment numbers skyrocketing each reporting period, the controversy of bailing out banks and investment companies while letting the Big Three American auto maker die, throwing thousands more out of work seems to have brought about a compromise that will keep the companies from filing bankruptcy by years end.
According to Barney Frank, this diversion of the $25 Billion will get the auto industry into next year when a new president and congress more interested in the plight of the industry will be in office.
Ugh… I really really really hate these bailouts. The Big Three don’t even know what they’re going to use it for… what a joke
We should save the auto industry but not if the powers-that-be aren’t interested in saving themselves.