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by MoonOwl from The Brink of Madness

Last Post 11 days, 2 hours Ago


"Auto-Finance Firms Seek a Hand"
Sep 23, 2008 | 8:40 AM
Category: News
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Here's a bit:

WASHINGTON -- Automobile-finance companies lead a growing list of liquidity-starved industries trying to get in on the huge government rescue plan targeted originally at cleaning up bad mortgage bets.

As Congress crafts a $700 billion federal government plan to buy up financial companies' troubled assets, auto-finance-company lobbyists are pressing for specific language including them in the plan, according to a lobbyist for one of the Big Three auto makers.

Other businesses, such as student and credit-card lenders, also could eventually access the program. To permit that, House and Senate versions of the bill written overnight -- with lobbyist input -- now include language broadening the types of assets eligible for sale under the plan, from "mortgage-related" to "troubled assets." The bill now goes by the acronym TARP, for Troubled Asset Relief Program.


http://online.wsj.com/article_email/SB1222128510994
65403-lMyQjAxMDI4MjIyMzEyMjM4Wj.html


Here they come....
MoonOwl


7 Comments |  Add a Comment

Member Comments Total Comments: 7
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MoonOwl read my blog view my photos
Sep 23, 2008 | 8:57 AM

Here's another interesting article regarding "The Bailout". From the IHT:

"Can the U.S. learn any lessons from Sweden's banking bailout?"

http://tinyurl.com/42fe95

Accountability anyone?
MO
MoonOwl read my blog view my photos
Sep 23, 2008 | 10:02 AM

Ron Paul comments:

http://tinyurl.com/42y7qy
Vittorio read my blog view my photos
Sep 23, 2008 | 2:32 PM

Everybody wants their piece of the pie, but we have to pay for the filling. Nice.
MoonOwl read my blog view my photos
Sep 24, 2008 | 5:38 AM

It's becoming SOP for our sold-out crop of politicians isn't it Vitt?

Funny, our guys on the right are being awfully quiet on the proposed USSA. A Proud NeoCon should be crowing from the rooftops about what a great thing the bailout is. Instead the silence says it all. Perhaps they aren't NeoCons after all?

If it walks like CorporateSocialisim.....
My_Louie read my blog view my photos
Sep 24, 2008 | 1:00 PM

I am beginnig to think you are right...We are all doomed.
MoonOwl read my blog view my photos
Sep 24, 2008 | 1:46 PM

Section 8:

"Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."

http://tinyurl.com/43wpqn

That's a heck of a sentence.
MoonOwl
MoonOwl read my blog view my photos
Sep 24, 2008 | 8:41 PM

President Bush, saying "our entire economy is in danger," urged Congress to approve his administration's $700 billion bailout proposal.


Gee, I guess the economy isn't fine after all. Imagine that. Some of us knew that months ago. Back when we were called "Doom & Gloomers". Pretty gloomy right now eh? Especially the quote from my post above this one.

Wake up folks. The waters' boilin'. Oh wait, every thing's fine. Nothin' to see here, move on.... It's all the Dems fault anyway.
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MoonOwl

I'm a 45yr old DomesticGoddess and MamaRaptor. I'm out-spoken, opinionated & totally unPC.

Member Since: 2/20/2007


 

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