Friends,
The CEOs of the Big Two (plus some fraction) domestic automakers are testifying at this moment to save their bacon. The Democratic leadership wants to use a piece of the $700 billion in TARP money. Secretary Paulson and the current president say no. Some dudes want an additional pile of loans on top of the $25 billion already approved and administered by the Department of Energy for Detroit to make cars that run on powdered unicorn kidneys. The environmentalists are just absolute wrecks over that suggestion.
What’s a busy legislator to do? Looks like they’re going to punt.
Just to get an idea of the automaker’s chances of pulling this out, let’s take a quick look at the Detroit Lions’ record so far this year. You know, for some perspective…
– bob