Republicans Going To Filibuster Auto Bailout? UPDATE: DeMint Is Pro-Bankruptcy

• December 10, 2008

I’m cautiously optimistic that they will, though what worries me is that they’re only threatening to filibuster a version of it.
Senator Richard Shelby is on board with a filibuster. So is Senator John Ensign, and apparently Jim DeMint as well:

“Ensign is exactly right. This bailout will hurt taxpayers, it won’t help the economy, and it will prevent these car companies from becoming competitive. The only way for the automakers to survive is a complete restructuring that allows them to break free from the stranglehold of union bosses. If Senator Ensign insists on debate on this legislation, I’ll fully support him.”

I hope the sort of restructuring DeMint is talking about is the sort brought on by chapter 11 bankruptcy and not some revised bailout bill. Because there is no need for a bailout to prompt restructuring in the American auto industry.
All that’s needed is to let them fail.
Update: A DeMint staffer emails:

Just read your post on GOP senators opposing the bailout. Just to be clear: Yes, DeMint strongly opposes the auto bailout and has repeatedly called on them to use the tools of bankruptcy to restructure. Here’s video of DeMint saying exactly that a couple weeks ago:

Here’s the video:

Sounds like DeMint and the other Republicans threatening the filibuster are on the right side of this one.

Tags: Domestic Issues, Politics

http://Array di butler

I hope they make them at least make some changes, the union needs to pay for their greed, but hopefully they can knock down the union, and still protect the workers. But, you know this bailout is a done deal. So, they probably won’t get bupkus.
http://www.dartemis.net/blog/ sayanything-42

to the person impersonating John Locke,

When one considers what poverty looks like on the global scale, which includes places such as sub Saharan Africa and the Socialist Paradises of Cuba and North Korea, one could argue rather persuasively that we have effectively eliminated poverty in the United States and Canada.

As regards the U. S. Automobile Manufacturers, they should go into Chapter 11 and emerge healthy, or die. Machs nichs.
http://www.dartemis.net/blog/ sayanything-42

Please Lord, let it be so…
bill-tb

There is hope … Who wants to buy Volgas.
2Hotel9

Dear sweet God I HOPE SO!!!
http://www.dartemis.net/blog/ sayanything-42

The person inpersonating John Locke opines:

i just hope that our government doesn’t just let them go bankrupt. to many jobs would be lost and not recovered. the auto companies would probably outsource everything if it came to that…

Chapter 11 does NOT mean liquidation.

As regards outsourcing, I work for a company in an industry that is rife with outsourcing. We consistently outperform our overseas competition and thus are doing quite well, thank you.

The problem here is not exactly unknown…
http://www.dartemis.net/blog/ sayanything-42

the person impersonating John Locke now opines:

But you must atleast see that a significant number of jobs will be lost if the auto companies start with Chapter 11.

No jobs, as opposed to make work or jobs bank non-jobs, need be lost. There are lots of folks quite able and willing to do those same jobs for less, as various foreign automakers who operate plants in the United States have been demonstrating for years now.
Mickey

It is paradoxical when the average income of the average American is below $40,000 per year yet the average quality car built by the big three costs more than $40,000. (UAW members not included)

Perhaps this nation is in better shape than the left would have you believe.
di butler

The person impersonating Locke needs a econ class, and a history lesson.

BTW, this is interesting: Toyota and GMC sold approx the same no# of cars last year. GMC lost 38 bil, Toy made 17.7 bil. What’s wrong with this picture?

Anyone who thinks this is going to work out with a “car czar,” they want Volker, and then the companies will have to go directly to him for everything. I don’t remember ever seeing where Volker ever ran a auto industry, but I guess I nust have missed that. I hope that the Shelby is willing to do the filibuster he says he is. People who lose their job, if that has to happen, can perhaps move to ND or somewhere there are jobs. No one is guaranteed a job in this life, sometimes you have to actually get off your ass and move somewhere else and start over. Maybe doing something different, maybe something they think is beneath them. But this is life. We are only guaranteed life, liberty, and the pursuit of happiness. There is no where written that we are guaranteed a job at GMC, or elsewhere. Life is not fair.
http://www.myspace.com/johnlocke220 John Locke

no jobs need to be lost. same can be said about the poor. there doesn’t need to be poor people. we can just become socialist and provide for everyone! but i can promise you that jobs will be lost. sad but true
http://www.myspace.com/johnlocke220 John Locke

well congradulations on a job well done graves. But you must atleast see that a significant number of jobs will be lost if the auto companies start with Chapter 11.
http://www.ndfirst.com/ DG

Congress should hire Donald Trump to manage the restructuring banruptcies of the Big3.

Trump uses bankruptcy all the time to restructure his holdings.
http://www.myspace.com/johnlocke220 John Locke

i just hope that our government doesn’t just let them go bankrupt. to many jobs would be lost and not recovered. the auto companies would probably outsource everything if it came to that…
2Hotel9

Companies file Chapter 11 every day. It does not mean the company ceases to exist, it means the debt is restructured, those parts of the company that are failing are liquidated, and the company moves forward.

Problem here is that most of the Republicans who are standing up are not against the bailout, they just want it done differently.

SayAnythingBlog.com

Republicans Going To Filibuster Auto Bailout? UPDATE: DeMint Is Pro-Bankruptcy

Create a SAB Readerblog

Recent Comments