More finger pointing from the clueless Dems in the Senate when it comes to economic issues. They just can't wait for Obama to come in there and take some leadership which means take some of the blame if (more likely when) they fail.
"At a time of great crisis with mortgage foreclosures and autos, he says we only have one president at a time," Frank said. "I'm afraid that overstates the number of presidents we have. He's got to remedy that situation."
Obama will remedy the situation on January 20 when he is sworn in as President, Congressman Frank. Until then Bush is still President and Paulson is Finance Secretary whether they like it or not. Of course a pea-brain like Dodd can't wait that long:
"The Obama team has to step up," Sen. Christopher Dodd, chairman of the Senate Banking Committee and one of the lead negotiators, said Nov. 21 in Hartford, Conn. "In the minds of the people, this is the Obama administration. I don't think we can wait until January 20."
The Constitution of the United States dictates that they wait that long Sen. Dodd. If the Dems fail to save GM and it pulls the other two automakers under then it is 100% on their heads. All the Congress has to do is figure out where the money will come from and what strings they need to attach and the problem will be solved. They should just drain it from that Fuel Efficiency loan that is already on the books. I mean GM won't be able to make *any* cars (fuel efficient or not) if they are closing their factories and showrooms.
I mean the automakers have submitted their plans even though Dodd probably can't read a balance sheet to save his life. In fact the automakers seem open to almost any strings that the Congress wants to attach to the money.
Following the marathon hearing, one auto executive said he was encouraged that some Republicans who seemed not to listen at all to their requests for government help last month were "more rational" on Thursday about the impact on the broader economy. "I think we can save the industry in the next month, but it will be a very different-looking Detroit Three in a few months, and probably will be the Detroit Two."
Ah the gunshot marriage of Chrysler and GM? The government is getting pretty good at these forced pair-ups so what will make them stop in the future?
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