Maybe you have read my numerous posts on bailing out the auto industry, or maybe you have not. Educate yourself here , here, and here. Today it appears that a bill will be brought before Congress that will get $17 billion to the auto industry in a effort to keept it afloat until Barrack Obama’s administration can nationalize it! Furthermore this $17 billion will not come from the TARP program but from the $25 billion already promised to the industry by the CAFE legislation. Here is the kicker: The Dems in the U.S. Government will take credit for drafting an aid package when all they have really done is accelerate the money that is already owed to the Big 3. They will also call for the heads of all the executives and propose massive company reorganizations. Think about that.
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