Thank you George W. Bush.

Friday, December 19, 2008

I think everything I have come to expect about this world has been turned on its head.

First, we elect a black guy with a funny name to the Presidency. Next, I compliment Congressman Thaddeus McCotter for standing up for the automakers. Now I have to thank George W. Bush for loaning the automakers enough money to get them through spring.

I have no idea what separated Bush from the bunch of scum in the Senate, but I have to assume he took action with the best intentions and because it was the right thing to do.

This morning Bush said:

"The financial crisis brought the automakers to the brink of bankruptcy much faster than they could have anticipated."



Also:

"If we were to allow the free market to take its course now, it would almost certainly lead to disorderly bankruptcy. In the midst of a financial crisis and a recession, allowing the U.S. auto industry to collapse is not a responsible course of action. The question is how we can best give it a chance to succeed."

5 comments:

Smitty 3:59 PM  

Everything is backward. Up is down. Left is right. Bush is right.

What's next?

Pete 4:45 PM  

"The question is how we can best give it a chance to succeed."

I think that's the real meat right there. Sooooo....they've got some cash flow, what now? Will we be seeing this all over again in 3 months?

As much as I hate the idea of government "saving" any sort of business (banks included!) whose model has failed, the prospects of an automaker collapse and the impact that would have on the national economy trumped any ideals. Something needed to be done to head things off, and I am glad that finally *something* has been done. But I still wonder what exactly the point is, and what it will do, and if it will matter or not. Did this just postpone the end for a while longer?

Mike 11:19 AM  

I have to assume he took action with the best intentions and because it was the right thing to do

I sincerely doubt that. The fact that Bush supported this (as he did the banking bailout measures) lends more weight to my enormous outrage over my country turning into Bailout Nation.

steves 6:13 PM  

Bush has had some decent moments, though his bonehead moments seem to happen more often. I think giving credit to where credit is due is a pretty classy move. Good post, Bob.

Rickey Henderson 11:23 AM  

Given four more years, Rickey is certain that the Bush administration would find another bubble to put it's unyielding faith in. Classy post, yes, but you give 'em far too much credit Bob.

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