Auto parts makers have asked for $25.5 billion in aid from the federal government. More than 40 auto parts makers filed for bankruptcy last year and many more are in imminent financial danger this year as car companies cut back production in the face of spiraling demand.
The senate failed to block the release of the remaining $350 billion of the bailout package that passed late last year. Does this mean more free money for banks that are still not lending after receiving the first half of the bailout money?
Editors Note: When will the American taxpayers get a bailout or tax relief or anything to help them out? Maybe stop lending money to all those countries that don’t like the US. If they can’t survive on their own, then let them figure out their own problems… We have our own issues to worry about.
The auto bailout bill that has been making it’s way around capital hill is effectively DOA.
Democrats and Republicans were to far apart to pass anything that would be helpful; particularly because Republicans wants workers to take a pay cut so they better rivaled foreign company workers. Read the full article on CNN.
I agree. Why would workers take a pay cut and the CEO’s are still getting bonuses, riding in private jets, and continuing their bad investments that brought them to this point. They knew for years their companies were heavily tilted towards SUV’s and trucks yet didn’t do anything to fix that situation. The foreign companies were bringing in smaller more fuel efficient cars at a cheaper price. Hello, dumb asses… If you started producing these cars back then, you probably wouldn’t be in this situation now. Well maybe you would because your all greedy jerks.
