Today’s plan to bailout automakers comes in at $17.4 billion. That’s about $178 per U.S. family, or $57 per person.
It’s not clear that all this money is going to be spent outright – it may be in the form of loans (and who knows whether the loans would be repaid). So don’t [...]
“[T]roubled assets from any financial institution.” That’s what the financial services bailout bill allowed the Treasury Department to buy: “troubled assets from any financial institution.” They were talking about bad mortgages.
But then the money got used to buy pieces of financial institutions themselves. Some Members of Congress raised a stink when word circulated that [...]
According to the Washington Post:
An eleventh-hour effort to salvage a proposed $14 billion rescue plan for the auto industry collapsed late last night as Republicans and Democrats failed to agree on the timing of deep wage cuts for union workers, killing the legislative plan and threatening America’s carmakers with bankruptcy.
Bankruptcy does not destroy a [...]
Though the text of the auto bailout bill Congress passed Wednesday is still not available, a summary of it is in the wiki article about the bill. (You’re familiar with the wiki-editable articles on each WashingtonWatch.com bill page, right?)
It turns out the bill is much like the one we looked at here (and here) the [...]
The House of Representatives has passed the auto bailout legislation. Get a look at how your Member of Congress voted here.
What does the bill say? Well, the text is not yet available to the public.
Go figure.
Back when the bailout train was getting rolling, House Speaker Nancy Pelosi posted the financial services bailout legislation on her blog Sunday September 28th, 2008 at 3:12 pm.
The House voted on the bill the next day at 2:07 pm. It was only 22 hours, 55 minutes later – not quite the 24 hours that [...]
There’s an especially important dynamic at play in the newest auto bailout plan (discussed in this week’s WashingtonWatch.com Digest) that’s worth highlighting: To shore up the financial situation of the “Big Three” automakers for some period, money would come from a fund intended to get them into building cleaner, more efficient vehicles.
Part of the [...]
That’s the amount per person in the United States U.S. automakers asked for in a bailout hearing today on Capitol Hill. Actually, the $34 billion proposed automaker bailout works out to about $110 per person in the United States, just shy of $350 per family.
Would you loan the auto industry a C-note?
The AP [...]
I’m impressed by the comments on H.R. 7297, the Emergency Automobile Industry American Jobs Protection Act of 2008, and encourage you to take a look.
I noted the bill in this week’s WashingtonWatch.com Digest (subscribe here) and spurred knowledgeable and opinionated people to share their thinking on the idea of a “Big Three” bailout.
There’s [...]