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Tester, at least, is consistent. You can't say the same for Senator Baucus, who was one of the leaders of the Wall Street bailout.
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Too bad we can't have some do-overs with the financial houses, and treat the white collars like the southern republicans are treating the blue collar union workers.
It's just not fair that the republicans are getting their payback already (against Obama's union supporters and voters), and all us progressives have to watch the oligarchy go on with their golden parachutes, and stadium branding, and lear jets... There really still is two Americas.
Another thought: If the southern republicans are going to push for union wages to be lowered in comparison to nonunion autoworkers for foreign-owned factories, now might be a good time for progressives to push Obama to rescind those tax breaks for the wealthy 250k/yr and upwards crowd. Maybe progressive dems could push for limiting executive salaries and cush white collar jobs pay scales in the financial and auto industry to some x percent of the minimum wage--or equivalent to what the Japanese managers in the south get, or Nikkei financiers get.
And a last thought: if we lose American-owned heavy manufacturing capacity, what would we do in the face of WWIII? Nationalize the Toyota and Nissan plants in the south to build tanks? Invade and hold parts of Mexico's manufacturing facilities hostage to build airplane parts? Make Canada's ability to import American electronics & computers contingent upon them supplying us with artillery and troop carriers?
"The federal and Ontario governments will provide a lifeline worth about $3.3 billion for the struggling Canadian auto sector, but the money won't flow until the U.S. approves its own bailout package, Industry Minister Tony Clement announced Friday. Clement added that the funds are "contingent" upon the auto industry creating a plan for long-term viability, and he noted that the announcement is intended to send Washington a message that urgent action is necessary."
Clement added that the funds are "contingent" upon the auto industry creating a plan for long-term viability, and he noted that the announcement is intended to send Washington a message that urgent action is necessary."
Let's let the Federal Reserve use some of that $700 billion to loan the the auto industry.
Or
Let's buy them out, not just bail them out. Taxpayers could be the major share holders.
Don't get me wrong. Both my beloved and I drive American makes; she loves her Chrysler as much as I love my Dodge. But all 3 of the Big 3 have been poorly run and unadaptive to future realities, based on the idea that their wealth (just as in realty and finance) would be never ending and never challenged. Simply putting those companies in public hands wouldn't change that outlook.
And one thing that's bothered me a lot, with the idea of public ownership of manufacturing, is this: why would I want to own a company when I can't even afford to buy it's product? Both of our rigs are used. With energy prices, food inflation and paying for housing that was clearly 'bubbled', we simply could not afford to buy a new vehicle from any of the Big 3 that has the quality, the warranty and the features that foreign makes have. Years before this crisis began, Detroit got stuck on the idea that making a car affordable meant making crap (anybody here ever have to suffer through a Chevette?) No wonder people started buying Subarus, Hondas and Toyotas. The American standard of fuel efficiency engineering is a joke, and they have consistently jacked up the price of a vehicle when consumers demanded such a basically desirable feature (based on some twisted notion of supply and demand, no doubt.) So their sales have tanked, and they blame the people who have built their poorly engineered and completely mismanaged and mis-marketed product.
No, I'm not certain at all that Americans should buy into bad ideas, bad product and bad management, any more than I thought we should buy up a bunch of bad debt (keep in mind, what we bought was the debt of those profiting/speculating on the debt of others, not the debt of people who would actually purchase cars and such to get the economy moving again.)
While gas prices were skyrocketing they had their guzzler plants working overtime.
Would this even be considered, if the UAW wasn't such a big campaign donor?
What am I talkin' about? Of course you missed it. You're Eric. Missing the obvious is what you do.
Think about it.
Again, Tester is not the Progressive he purported to be. Baucus is a Free Market Fundy / Plutocrat who is a menace to humanity. Baucus is a dreaded Republican just look under the veneer of BS.
"Montana's U.S. Senators Max Baucus and Jon Tester voted against the proposed bailout of America's "big three" automakers yesterday. Baucus and Tester were among just four Democrats who voted against even considering the plan. Today, Senator Tester said he was not convinced that the bailout for Detroit was the right thing to do for Montana. Tester told KRTV's Katie Stukey: "I just think that if we're gonna approach the economic turndown that we have - make no mistake about it, I love cars and I love auto manufacturers - but this has got to be more than a Band-aid approach, going from one industry to another industry, you know? Where does the line stop? There's a lot of businesses here in Montana that are hurting in a big big way that would probably like to have a bailout too." Tester says he hopes the Secretary of the Treasury will look at possibly giving the automakers money from the $700-billion dollar Wall Street bailout."
Baucus and Tester were among just four Democrats who voted against even considering the plan.
Today, Senator Tester said he was not convinced that the bailout for Detroit was the right thing to do for Montana.
Tester told KRTV's Katie Stukey: "I just think that if we're gonna approach the economic turndown that we have - make no mistake about it, I love cars and I love auto manufacturers - but this has got to be more than a Band-aid approach, going from one industry to another industry, you know? Where does the line stop? There's a lot of businesses here in Montana that are hurting in a big big way that would probably like to have a bailout too."
Tester says he hopes the Secretary of the Treasury will look at possibly giving the automakers money from the $700-billion dollar Wall Street bailout."
"Tester says he hopes the Secretary of the Treasury will look at possibly giving the automakers money"
Classic game of hot potato.
This country needs a little less preach and a lot more practice. I own a Pontiac... It gets great gas mileage. I may not fit in with my trendy organic shoppers (and I suppose driving my canoe around all summer would be harder), but I know that I supported my brothers and sisters in the union and their families when I bought it. We each make choices as consumers that can make huge differences in the economy. The more for less mentality on the part of ceo's as well as consumers has gotten us here, and we are all guilty of passing off this hot potato of responsibility.
But buying US isn't the answer. I'm not advocating for a bailout because I think the industry is good, or maligned, or has good products that need saving. The reason I support a bailout is because of jobs, period. If we weren't in a recession, I'd say the auto companies could go to hell. But we are, and as much as Tester claims, 3 million lost jobs will hurt Montana, even if those lost jobs are in Michigan. It means a domino effect on wages across the country, it means a drop in demand for timber as well as organic soybeans, it means more people needing tax-funded unemployment, and less wealth being created.
that provision would have allowed a now-illegal tax scheme whereby investment banks appear to take possession of municipal infrastructure, like subway systems, so they can shield profits from taxes by counting the depreciation of the subway against their profits."
"it's outrageous, baucus said. "american tax dollars are going to subsidize these sham transactions."
http://missoulian.com
it seems to me that congress is ignoring common sense again in favor of joining the white collar theives on wall street to steal more of our money. it sure is outrageous max, and if they keep it up the already smoldering anger of the middle class will erupt into a conflagration of retribution so intense that it will make the civil rights march on D.C. look like a small backyard barbecue. it is time the politicians took stock of the anger meter of the american public before they help out any more rich bankers with any more of our money unless they want to lose their jobs. both parties will lose this next election as people move toward independents if the repubs and the demos do not stop pandering to the rich assholes who started this debacle in the first place. change will come alright and it will come because the middle class is not used to suffering like the next two years will bring. their reaction is not going to be pretty and neither party looks particularly appealing to any of us right now. we just want congress and the next administration to exhibit some plain old common sense. is that asking too much? if it is we will find someone who can deliver and elect them. United we stand, divided we fall. power to the polite people!
