Congress needs to aid auto industry
Let me get this straight: $1.5 trillion for bank assets that no one can value, and so no one wants; $300 billion to insure fixed-rate mortgages for people who didn’t know they needed a job or a down payment to buy a house; $200 billion for wheeler-dealers at Fannie Mae and Freddie Mac; $150 billion for party-hardy insurer AIG big wigs; In all, $7.7 trillion and counting in bailouts, loans and guarantees for as greedy a bunch of pirates this side of Somalia. Then there’s, uh, $0 for the domestic automakers whose demise could throw as many as 3 million people out of work. Welcome to the Twilight Zone, American-style. Actually, welcome to Politics, American-Style. This is where the Democratically-controlled Congress last week told some of its staunchest supporters — the middle class that was so important to it during election season a few weeks ago — to justify its existence.
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