The Senate’s top Republican broke with the White House Thursday over a proposed $14 billion bailout for ailing automakers, setting off a scramble to find some compromise and forcing the administration to consider other emergency steps to avert bankruptcies among Detroit’s Big Three this winter.
Bob Corker has put some fresh meat on the table as well. He apparently has published a five page amendment to the bill that is drawing some “interest” from GM and the UAW is “talking”.
“The UAW does not support the Corker amendment as offered. But we are in contact with them and they are discussing this,” said Senate Majority Whip Richard Durbin (D., Ill.)
“I think it’s a good faith effort,” Durbin said. “But there are a lot of pieces to this and we’re trying to bring them together pretty quickly.”
“I hope we can do this. But it’s possible that it will be a bridge too far.”
In essence, the amendment seeks to toughen the underlying administration bill by setting out specific steps which bondholders and labor must take to reduce GM’s debt and operating costs by the end of March or see the company go into bankruptcy.
So, the UAW doesn’t like having to pony up to keep their jobs and they don’t like having specifics written into the bill which will hold them accountable. Not surprising since neither the Big 3 management or the UAW has any concept of the meaning of accountability. (NOTE: everybody with a double digit IQ has seen this coming for at least 25 years. That obviously excludes the management at the Big 3, the UAW and every politician in Detroit and DC.)
Oh, and Durbin talking about “good faith” is in the article for comic relief. He wouldn’t know “good faith” if it landed on his head.
Anyway, the White House is upset. President Carter’s Bush’s spokesperson indicated
The White House has been uncomfortable with Corker’s demands that such specific policies be written into statute.
On another positive note, the bill passed the House with only 32 Republican votes prompting Miss Nancy to say
“To have just 32 Republicans, you think, ‘Why don’t we write our own bill?’” she told Politico, citing the concessions she made to the White House.
Nancy is apparently hoping that Bush will order Paulson to feed the beast from his $700B honey pot and take the Dems off the hook. If Bush does that, I’ll be wishing I’d voted for the Traitor in ’06.
While there appears to be reason for real hope based on the work of Senators Corker, Shelby, Kyl, McConnell and others, there is still the idiot fringe with Coleman and Gregg who want to strengthen the hand of the Auto Czar. Nobody who has any connection with Washington can fix this mess. A bankruptcy trustee has a better shot.
Hang tough folks. Call your Senator, and call McConnell, etal and thank them for telling the President and his friends on the other side of the aisle to go spit up a rope. You can find contact information for your Senator here.
I’ve called both Kyl and McCain. Kyl is opposed to the bail out and wants the Autos to file C11. McCain is “leaning” what the hell ever that means.