“The bailout died after failing 52-35 on a Senate procedural vote.”

Thank god.  That’s the verdict according to Fox News.

Not that Fox is to be trusted entirely, but…  seems like a pretty real statistic.

http://www.reuters.com/article/politicsNews/idUSTRE4BA4S420081211

Any hopes at “change” from the current bailout mentality should be readily dashed.

“President-elect Barack Obama said on Thursday he hoped a congressional deal to bail out the struggling U.S. auto industry could be reached this week, saying again that Detroit’s “Big Three” automakers could not be allowed to [...]

It is true that the big three had no crystal ball in which to gaze and see the rise of gas prices.   So it goes.  This is the way of a free market.  You don’t always bring things on yourself, they just kind of happen.  It is unfortunate, but it is [...]

City of Lansing Michigan’s Mayor, Virg Bernero, has some muddled thinking on how the auto industry should be dealt with regarding bailout money.  He doesn’t seem to understand that the money comes from the people.

Here is his email address:  mayor@ci.lansing.mi.us

Feel free to correct him

Here is a youtube [...]

In a recent spotlight on the Boston Globe’s website they try to come up with reasons why the bailout might feasibly help taxpayers.  Seems to me like they have to stretch pretty far to see any light at the end of that tunnel.  Most of the “benefits” are obscure ways to [...]

Problems here in the US have a tendency to make themselves felt worldwide, as we have all seen in recent months.  Here is another good example.

German automaker Opel, a subsidiary of the existentially threatened American firm General Motors, is trying to get the German government to secure its future. Its [...]

It is astounding the differences that you can find in opinion regarding this bailout. Often those differences are shown in the news sources and the target audience thereof.

Here are examples A and B:

The American Institute of Economic research gives a reasoned and balanced assessment of bailing out big auto [...]

In a record bailout of a private company, the government on Monday provided a new $150 billion financial-rescue package to troubled insurance giant American International Group, including $40 billion for partial ownership.

Read the rest here.

“GM needs bankruptcy, not a bailout”

General Motors would like some taxpayer cash a bit more than $10 billion should do to help it buy Chrysler…..  Read the rest here.