Senate cancels vote on doomed auto bailout

WASHINGTON (AP) - The Senate's top Democrat has called off a planned vote this week on a $25 billion auto industry bailout. Senate Majority Leader Harry Reid said that he wanted to figure out some way to help Detroit's struggling Big Three but that efforts to do so had stalled.
The White House and congressional Republicans rejected Democrats' plan to dip into the $700 billion Wall Street rescue fund to finance loans to U.S. automakers.

A bipartisan group from auto industry states is working to cut a deal on a scaled-down aid package. If agreement can be reached, Reid said the Senate could still vote on it as part of a measure to extend jobless benefits.

Did you all see the automaker execs at the Congressional hearing? What a bunch of greedy beggers. I'll add the link if I can still find it.

ETA: Big Three auto CEOs flew private jets to ask for taxpayer money

(CNN) -- Some lawmakers lashed out at the CEOs of the Big Three auto companies Wednesday for flying private jets to Washington to request taxpayer bailout money.

"There is a delicious irony in seeing private luxury jets flying into Washington, D.C., and people coming off of them with tin cups in their hand, saying that they're going to be trimming down and streamlining their businesses," Rep. Gary Ackerman, D-New York, told the chief executive officers of Ford, Chrysler and General Motors at a hearing of the House Financial Services Committee.

"It's almost like seeing a guy show up at the soup kitchen in high hat and tuxedo. It kind of makes you a little bit suspicious."

He added, "couldn't you all have downgraded to first class or jet-pooled or something to get here? It would have at least sent a message that you do get it.". . .

http://us.cnn.com/2008/US/11/19/auto...ets/index.html

__________________
"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

Yep. . .it's all such a crock. They won't give up their private jets, but thousands will probably lose their jobs.

ETA: Ok, how is that possible? I posted after you, even quoted you, but my post shows up first. Weird. . .

__________________
"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

And didn't you love the way they each flew in on their private jets??

Hmmm.... you're a mind reader now?

Apparently. . .LOL!

No, seriously. . .I've mastered time travel, but don't tell anyone.

__________________
"No one believes more firmly than Comrade Napoleon that all animals are equal. He would be only too happy to let you make your decisions for yourselves. But sometimes you might make the wrong decisions, comrades, and then where should we be?"
- George Orwell Animal Farm

Perfect example of what is wrong today.

At least GM did the right thing when called out on it and are returning 2 of the leased jets. Though they say that decision was made in before this week and they returned 2 others in Sept. of the 7 they had at the time.

I read the operations manager Ford quit using private jets 2 years ago to fly home to Florida and now flies first class instead. Ford still owns five of the jets though.

Chrysler says they use them, but won't comment on their use cause they see it as a "private matter".