Friday, December 12, 2008

Treasury, WH Willing to Consider Use of TARP Funds for Automakers

From Bloomberg, hat tip to Kathy-

The U.S. Treasury said it is willing to provide financing to American automakers after the Senate yesterday failed to approve a rescue for the beleaguered companies.

"Because Congress failed to act, we will stand ready to prevent an imminent failure until Congress reconvenes and acts to address the long-term viability of the industry," Treasury spokeswoman Brookly McLaughlin said in an e-mailed statement.

Our hero, George W. Bush.

HAHAHAHA! (Edit 2:25 PM - Now that the nitrous has worn off, this doesn't seem as funny as it did.)

And from First Read at MSNBC - an important point.

By the way, it’s amazing how McConnell was able to run circles around Reid. Sure, the numbers are closer now than they will be in a month. And, sure, it’s always easier to be minority leader than majority leader. But McConnell is proving to be a pretty smart minority leader, while Reid continues to get frustrated again. And the lesson the Senate GOP caucus is going to learn from this fight is that by sticking together, they can hold up Obama's agenda.

Time to get tough, Democrats, or we will have Michigan writ large as the Republicans use obstruction in the name of partisan politics alone. Bishop is probably asking for an autographed picture of Bob Corker as we speak.