So Congress vetoes the auto bailout in large part because of the unwillingness of the autoworkers to accept non-union wages, and Pres. Bush is going to find a way to rescue these losing enterprises with tax payer dollars...again I ask--Can people please stop accusing President Elect Obama a socialist.
Under the Bush administration, an 8 trillion dollar bailout with taxpayer dollars is being enacted to "rescue" those such as Merrill Lynch CEO, Mr. Thain, trying to still claim a 10 million dollar bonus; and auto executives who come begging from money in their private jets...And thanks to the the Feds monetizing of the debt, whatever dollars the taxpayers have left after bailing out these wealthy folks, will be worth substantially less...Years of savings have been wiped out thanks to Paulson/Bernacke/and Bush's recent monetary actions (imho)...
The White House says it is considering using money earmarked to rescue the US banking industry to bail out the country's struggling carmakers.
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