…Shelby, who also voted against the $700 bailout bill for the financial industry, called it a “bridge loan to nowhere,” and said General Motors, Ford and Chrysler have to undergo a fundamental restructuring of their operations rather than look for federal help.
He also predicted auto industry executives would soon come back to Washington looking for more money, beyond any assistance they are given now.
“This is a down payment on many billions to come,” Shelby warned. “This is not something that happened overnight. This is 30 years in the making. These companies basically have failed or are failing. They probably need, according to some people, about 60 percent of the management to go, and about 40 percent downsize of the workers.”
Shelby also threatened a filibuster of any auto aid agreement, but was unsure whether he had the votes to sustain it.
I don’t think that there’s a Contributor to RedState that disagrees with Shelby’s second paragraph. We’re all grimly certain that the auto industry will be coming back for more life support money next year. I’m not sure whether Shelby’s actually trying to sweep back the tide here, or merely making sure that our objections are on the record; either way, there’ll probably be a bailout before the end of the year, and then it’s your best guess when the Big Four (I’m including the UAW in this one) will have their hand out again.
Presumably the Democrats will be hoping that their new clients will not fly in on corporate jets the next time that they stop by to ask for the taxpayers’ money.