Do you think there will be an Executive Order for the Big Three loan?

[LostinVA]

I doubt Bush will do it (although I may be wrong -- he's worried about his legacy all of a sudden), but do you think Obama would? And, alot of economical havoc can be wreaked in the few weeks before he's inaugurated. This is an end-run around the jerk-wad anti-labor Republican holdouts.

I'm not a fan of the EO, nor of these bailouts, but I think the auto industry needs to have something done because of the jobs, although I want WAY stricter oversight than the Government gave the Bank bailouts.

What do you all think about this?

on edit: I meant more than he would "juggle" the funds, rather than try to do something illegal by circumventing Congress... you know, like the invasion of Iraq.

[blueclown]

1. Correct me if I'm wrong, but approriation of funds to any entity must be approved by Congress.

It is likely, however, that the Big 3 will start getting the remaining TARP money.

[Sherman A1]

I believe that you are right, however

when Obama takes office, I believe he could move some of the Wall Street package to Detroit. It would be up to his Treasury Secretary to do so, since it is that office that holds the purse strings on the $700B (or what's left of it).

[LostinVA]

4. Ah -- I guess that's what I should ahve written

[TheCowsCameHome]

2. I think so.

[Jack Bone]

3. depends on how bad the markets react today..we'll see...nt

[LostinVA]

5. That's what I'm thinking

Or, if the markets really tank, that'll freak out the Holdouts enough to get them to change their votes. No one wants to be listed in a history textbook as having been part of causing a great depression.

[babylonsister]

6. It was mentioned last night they might take some of the existing money

left for the bank bailout and put it into the auto industry. I got the impression Reid was banking on that.

[DCBob]

7. White House will likely tap funds from the Wall Street bailout

From CCN:

"However, the Big Three could still wind up getting government funding. Bush officials warned wavering GOP senators earlier Thursday that if they didn't support the legislation, the White House will likely be forced to tap funds from the Wall Street bailout to lend them money, two Republican congressional officials told CNN. The White House has been strongly opposed to using any of the $700 billion in bank bailout funds to help the auto industry, but the Bush administration has also expressed that the Big Three must get some financial assistance soon."

http://money.cnn.com/2008/12/11/news/companies/auto_bailout_senate/index.htm?postversion=2008121208
===============

I suspect this will happen. Bush likely has the blessing of Obama and most Democrats to move forward with this alternative plan.

[LostinVA]

8. I guess Bush IS sweating about the ;egacy thing a bit

I won't say "good for him," because he's teh one that caused this problem in teh first place.

Thanks gang -- I somehow missed this info last night.

[DCBob]

9. This final action may end up being the most positive productive thing Bush will have done..

during his entire administration.

[Jennicut]

10. His one good deed, he must be worried about getting into heaven

[DCBob]

11. He will need to do a helluva alot more than that to get forgiveness!

IMO.