The Auto Bailout is On

Now that that GOP has killed the auto bailout in Congress, what will happen?

The automakers will get their money.

Bush will order Paulson to use TARP (or an emergency measure will pass in the Senate.) It is a certainty.

The GOP is stupid, but they’re not suicidal. They’re going to realize that letting General Motors go bankrupt in this economy, just before Christmas, will damn them through 2012, at least. It would be, as Cheney warned, “Herbert Hoover” time for the Republicans.

Thinking about it, it could just be a bit of gamesmanship here. Bush will cover (pun intended) Congress with the TARP money, and the Republicans can still look like principled fiscal conservatives. Bush was never a true believer, they’ll say (despite the fact that they went along with everything).

At any rate, don’t bet against the bailout. It’s a done deal.

This entry was posted on Friday, December 12th, 2008 at 7:52 am and is filed under Business, Congress, Democrats, Government, Law, Money, Republicans, The Economy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

3 Responses to The Auto Bailout is On

  1. DRW says:
    Friday, December 12, 2008 at 8:39 am

    The people against this bailout are fools. I see links for related posts against it. Don’t they realize the psychological effect of these bankruptcies and the shockwaves that will results across finance and the economy. Give trillion to Wall Street and nothing to GM? Stupid, stupid, stupid.

    Reply
  2. Charlie says:
    Monday, June 15, 2009 at 9:08 am

    No Surprise that GM had to sink like the Titanic.. Just the pain and hard work of 300 Million Taxpayers going down the drain.. Whose responsible for that?

    Reply
  3. shari says:
    Wednesday, December 30, 2009 at 10:22 am

    Tired of Bankers having all the fun.

    Bailout! The Game the hilarious parody of the government bailout where when you lose, you win. In this role reversal of the classic board game debt is king.

    Bailout! The Game gives you an endless supply of T.A.R.P funds, laughs and fun.

    Be the bank, lose billions and get a bailout.

    Play as one of six banks: Bankruptcy O’ America, Worth Farless, No Cashvia, Liquidation Brothers, Greedy Investors of America, or Washed Up Mutual.

    Land on or pass over Frantic May and Frivolous Mac spaces and get slammed with bad debt.(MBS’s and CDO’s)

    Just as Monopoly was born out of the Great Depression, Bailout! The Game was born out The Great Recession.

    Winner of the Mr. Dad Seal of Approval. http://www.mrdad.com

    Creators of Bailout! The Game and Bailout! The Card Game
    Liberty Street Games
    http://www.bailoutthegame.com

    Reply

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