Republicans Kill Big 3 Bailout
12 December 2008 5:00 am by Taylor Marsh
BY TAYLOR MARSH
The AP is already blaming the union. How convenient for Republicans.
From Reid’s office after Republicans killed the Big 3 bailout late yesterday, leaving millions of workers in the lurch.
“Given the unhappy choice between a bridge loan and bankruptcy, Democrats have always believed that we must give the Big Three and the millions of Americans they employ every possible chance to succeed. “By rejecting every good-faith bipartisan compromise – including those from the White House and Senator Bob Corker – it is now abundantly clear that Republicans have no interest in keeping the Big Three from collapsing.
“Because Republicans failed to act, three million Americans are more likely than ever to lose their jobs and our economy is at risk of suffering even greater damage. Our hearts go out to those families who will now have to deal with this burden as the holidays near.
“Republicans may think that rejecting this legislation sent a message to the auto industry. Instead, they sent a message to every single American that they are more interested in settling scores than solving problems.”
Again, I hated the bailout, but under the circumstances we cannot afford to see millions of people out of work, with the economic contagion a Big 3 collapse would cause for this country. Jane has Chris Dodd’s speech.
Bush officials warned wavering GOP senators that if they didn’t support the legislation, the White House will likely be forced to tap the Wall Street bailout to lend them money, two Republican congressional officials told CNN earlier.
