Live Blog from the Anchor Desk 12/11/08
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I can't believe the senate is willing to let the American auto industry die. Automobiles are the second most costly expenditure for Americans. Do we really want to send all that cash overseas to the owners of Toyota, Honda, etc? What's next, paying the Chinese to build our houses? The American auto industry is suffering from mismanagement, worker greed over many years, and rapidly shifting buyer preferences, but we need the industry because it is the heart and soul of our manufacturing base and the basis of our middle class.
I agree with David Gergen that if anyone in Obama's camp sat on knowledge of Blago's 'pay for play' shenanigans it would be a bad political move. Pres-elect Obama's transparency philosophy would be tarnished.
If they had already searched that area before where Caylee was found, do you think someone put it there at a later time?
Erica, if it wasn't for the credit freeze, I would have rather bailed out the autoworkers over Wall Street. At least the Big 3 make a product, though admittedly not a great one.
That poor child's soul need to be put to rest. How could the mother put everyone through this? What a shame.
It's laughable that people compare the auto-industry bailout to the "wall street bailout," which was really a bank bailout. Want to know why it passed so easily? Because credit was frozen. With that being the case and no liquidity in the lending sector, an auto-industry failure would be 1 of 10,000 major problems the gov't would be facing.
I disagree with Toobin. I think Obama is taking too long and he should have said something after Blogajevich was arrested days ago. It shouldn't take weeks to find out who talked or didn't talk to Blagojevich. It just shows that his organization is apparently disorganized.
erica, why do the democrats blame republicans for the vote, when the democrats have the majority in the senate, and donot need the republican vote on this issue?
MaryBeth you right.. a factory worker gets $71 per hour thats insane... people with college degree are unemployed
It is a joke these senator with foreign money in there pockets. The people are more corrupt than the auto executives.
if the government owns a piece of the bank that it bailed out wouldnt the government make alot more money if the auto makers go bankrupt. after all what good would it be for the united states to own shares of a automaker isnt that comunism?
If that child's body is Caylee Anthony and it was found a few minutes from the house I have to question the competency of the police. Where were they looking?
the airlines will be next in line for a bailout California needs a bailout to much money for people who cannot control spending those companies need to down size we as the public need to audit their spending after all they want to use our money !
That doesn't seem right that the Republicans think with not passing this bill, that it will make Bush use the money earmarked for the Wall Street bailout.
As a Michigan resident who has seen constant striking and bargaining for more from the UAW, a big dose of reality is about to hit them that the rest of this country has had to endure. Anyone who is not willing to make small sacrafices can join the rest of us in the bread line.
What is it that the "talking heads" don't get......when the representitives do the WILL of the electorate? Finally, some of us believe that our elected representitives have GOTTEN THE MESSAGE. WE need to remind ourselves that we are a "free enterprise, capitalistic, democratic republic. Let's get back to the Constitution.
the responses are divided on whether or not the senate did the right thing – some say this is a failure/collapse of leadership, others say this is the right move, and it's what constituents want.
i'm curious, how did this proposal compare for you to the $700B bailout for the financial industry ?
yeah jeff. lets start forcing these dead head democratic senators to get off their rear ends and vote. By the way, democrats have the majority in the senate, they don't need republicans
Why can't Obama just send an email to his staff, found out who talked to Blago's staff and be done in 24 hrs?
I agree with David Gergen completely.
Casey,
I understand what you are saying, i suppose im one of those that is torn. I remember when there actually was a middle class, i dont really see one anymore, you are either at the top or the bottom.
The Big 3
If the CEO'S agree to not cut employee's wages, and health benefits but cut their's as well as take their bonuses and reinvest those funds back into their company's the government might pass a bellout to help them!
Dee from Dallas
That's right Anderson, the longer he waits the more speculation there will be. He knows what happened why is he hesitating?
I would have hoped that if discussions with Obama's staff did happen, they would have come forward and turned the Governor in. Guess I'm wishing for too much.
Help the car companies is not the same as helping our own people. Two issues need to be understood. There is no such thing as an American made vehicle. The parts of the vehicle come from all over the world. Many of the part on my Ford are metric and come from Latin America. Likewise, much of the engine is constructed by a foreign car company. There is no such thing as American industry in any pure sense of the word.
Haha! Right on Toobin! Playing to Rush would be an idiotic move.
I disagree Cory. By not having the bailout this will give the companies time to re-think their strategies and rebuild the industry hopefully by ousting the CEOs and replacing them, then addressing consumer needs, finally building better vehicles..
So the auto bailout did not pass. Although I am not surprised, I am worried. As a school teacher, I do my best to keep up with our national issues, and my thought is that our policy makers are not being proactive enough. They wait until a main artery is spitting blood then try to fix it with a band-aid.
The only strings attached to a bailout, I mean LOAN should be getting jobs back from Mexico. After all if they didn't pay the LOAN back it would be passed on to the American taxpayer!! Shame on the Government and media. Get facts straight!!
Obama has resigned his seat. He shouldn't be able to vote. He's half president already you know.
g.m and uaw have been working to make cars together for a profit for both. the reason G.m is in so much trouble is the banks failed and credit is hard to come by and everyone is scared to buy a car. If the credit crisis was not happpening right now g.m. was already on the road toward making changes that would take the company in the right direstion
Why is Obama taking so long to respond to the Illinois scandal? If you have absolutely nothing to hide, it shouldn't be that hard to give a straight response.
Dale hard work is great! The UAW does not reward hard work
60-80K a year? To work in a factory? Can't you take a pay cut?! I know ppl with college degrees who can't even find a job in their chosen field! I have a degree and I don't even make half that!! UAW ppl can certainly afford a slight paycut.
It is no wonder we in America are failing. We said absolutely nothing when Paulsen asked for $700 billion dollars for something we can't even relate to, but GM, Chrysler and Ford had to drive and beg for just a fraction of the money. We are OK to bail out the fatcats and the rich people. But when it comes to the average American and their job we vote against it. It is no wonder that the rich get richer and the poor get poorer. It is the ole poor mans mentality, that's why!!
David Gergen, my hero, I always agree with your analysis, you are the best we've got, but have to disagree with you this time. I believe the Senate has finally come to it's senses. Yes, they do have to work on being more bipartisan, but in this case I believe they're right.
President elect Obama has to be careful when responding, there are a lot of people involved here. He certainly cannot afford to say something at it be wrong. I hope that this governor gets shut down quick
Washington shouldn't feed the monster that is these huge automobile companies. If the government bailed out every failing business, we'd still have pet rocks.
@Roger: The $70/hr for the autoworkers has been debunked. They make approximately $28/hr.
What about the 13 senators who didn't vote in the auto bailout? It only needs 8 of those 13 to pass. Were there abstentions? Can or did Obama, Biden, and Clinton vote in the bailout? Is there any chance they can come to an agreement by the end of tomorrow? Why not impose a martial law state of emergency to force the senate to resolve this much like what happened with the Wall Street bailout?
Man, it's hard to keep up here. Jay, the financial bailout should have never happened either. It was too much of a knee-jerk lacking a cohesive plan. Now, we're all regretting it and we're too scared to go further with the auto industry (and the banks AREN'T loaning).
The bailout vote where Republicans abandoned the middle class and held the UAW captive was appauling. It is now totally transparent that we live in two Americas - wall street that gets the welfare - main street that gets the shaft. I am appauled and saddened and will join the hard working "in the trenches" people who should revolt. Big time.
The Obama camp prides itself on being well organized. He knows who talked to who. He's just not ready to admit it.
The republicans are to worried about lining the pockets of there friends (banking industry) than worrying about the long term affect of the BIG 3 failing. You think this country is in term oil now just wait. The rich get richer and the poor get poorer. Congress should be ashamed of themself!!!!
David Gergen looks really sad. He sounds really disgusted with the Congress.
MaryBeth,
I agree with you.... I agree with David Gergen..... he felt bad for them....
I agree with David Gergen. Congress is a mess and the Republicans will pay for this.
Stacy,
Yes! that is so mess for congress and they will learn lesson to stop bailout.
2/3rds of Americans don't want a bailout. Why will Republicans be blamed for doing the will of the people?
senate democrats let this vote fail. 4years fellas. That is all you got. This Pres-elect is already knee deep in it. 4 years of failure coming. David Gergin, total failure as a speech writer, total failure as a loyal reagan employee
For David Gergen. Don't you know that washington is run by lobbyst and "pay to play "is the national antum! but they are going around calling for the resignation of Blagojevich.Simply what the governor did it is the same thing they did tonight.
Regarding the efforts to provide financial support for the US automobile industry, why are you discussing the politics of the White House and Congress more so than what the de facto chief US economist and expert on the US depression, Fed Chairman Bernanke, thinks about the potential unemployment consequence(s) on the US economy? I would place greater emphasis and value on Bernanke's thoughts than any of the politicians of any party.
Incredible performance, the inabiity to recognize the consequences and the human toll is unbelieveable. I agree with David Gregen this is a total failure of leadership from our elected officials.
Senate leadership is not the problem as Mr
Gergen reports. GM and Chrysler leadership is responsible.