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DHS Report On Rightwing Extremism Proven Valid Once Again Cheney: We Knew GM Was In Trouble, But Bush Didn’t ‘Want To Be The One Who Pulled The Plug’ Conservative Nuttery Gingrich: I Shouldn't Have Call Sotomayor A Racist, Limbaugh Says He May Support Nominee Conservative Leader: "Hispanics think just like everyone else. We're not like African Americans" Sam Heath's Trying To Have It Both Ways Jindal Spokeswoman Admits Katrina Story Was Made Up Conservatives and the Religious Right Love Their Porn Abortion And Black Premature Birth Report Written By Rightwing Fringe Group Home Depot Founder: Retailers Who Don't Support GOP "Should Be Shot" October 07 November 07 December 07 January 08 February 08 March 08 April 08 May 08 June 08 July 08 August 08 September 08 October 08 November 08 December 08 January 09 February 09 March 09 April 09 May 09 June 09 July 09 August 09 September 09 October 09 November 09 
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Cheney: We Knew GM Was In Trouble, But Bush Didn’t ‘Want To Be The One Who Pulled The Plug’
Cheney Acknowledges Passing The Buck On GM: Bush Didn’t ‘Want To Be The One Who Pulled The Plug’ Last night on Fox News, Vice President Cheney admitted that the Bush administration deliberately decided to pass the buck on GM and let President Obama deal with the problem. Cheney admitted that he thought the “right outcome was going to be bankruptcy,” but that President Bush didn’t want to “be the one who pulled the plug.” Instead, the Bush administration put together a costly auto bailout to stem the tide until President Obama took office. When announcing his $17.4 billion auto bailout in December 2008, Bush said that “bankruptcy now would lead to a disorderly liquidation of American auto companies.” Cheney is now saying that they were thinking about bankruptcy all along, but instead used billions of dollars of taxpayer money to push their problems onto the Obama administration. Even former Republican senator Rick Santorum last week went on Greta’s show and chastised the Bush administration, saying that officials “blew it” for punting the problems onto Obama: SANTORUM: President Bush blew it. You know, he went out and convinced the Congress to give him a bunch of money to save the financial sector and then decided to take a little piece of that and give it to General Motors and Chrysler. Why? He punted. He basically said, I don’t want this failure to be on my watch. I want to let Obama deal with it. And we all knew at the time that letting Obama deal with it means the government’s going to come in and run the show, and that’s exactly what’s happened. Of course, even though Obama has managed to prevent a “disorderly liquidation of American auto companies,” it isn’t good enough for Cheney. Of course, Cheney offered no alternative vision during last night’s interview. Transcript: VAN SUSTEREN: On last question is on GM. We’ve spent an awful lot of money since last fall on GM to only have them end up in bankruptcy. Going back to last fall, would you have let them go into — or would you have pushed them into bankruptcy, do you think then, I mean, now that we’ve spent billions, or did you think that it was sort of a good idea to do what we’ve been doing? CHENEY: Well, I thought that, eventually, the right outcome was going to be bankruptcy. They had to go through such a dramatic restructuring to have any chance of survival that they had to be able to renegotiate labor contracts, and so forth. And the president decided that he did not want to be the one who pulled the plug just before he left office. VAN SUSTEREN: Why? CHENEY: Well, I think he felt, you know, these are big issues and he wouldn’t be there through the process of managing it, but in effect, would have sort of pulled the plug on GM and that was one of the first crises the new administration would have to deal with. So he put together a package that tided GM over until the new administration had a chance to look at it, decide what they wanted to do. VAN SUSTEREN: But it’s cost us billions to get — I mean, you know – CHENEY: It has. VAN SUSTEREN: I mean – CHENEY: And now the government – VAN SUSTEREN: I mean, and we’ve now spent billions. CHENEY: And now the government owns a big chunk of General Motors. That bothers me. I don’t like having government own those kinds of major financial enterprises. I think it’s — it does damage to our long-term economic prospects when we get government involved in making those kinds of decisions. The private sector then I think will be very different, function differently, if it’s full of government-owned enterprises, than would otherwise be the case. 24 comments from 10 users
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posted by
catpaw
on Jun 5, 2009 at 08:22 AM
I'm sure George will explain all in the book he's writing now. posted by
rwestfall
on Jun 5, 2009 at 08:39 AM
What did you expect him to do? He only had a month left in office. The auto companies were failing for years. Look what the bailout got us they still had to file for bankruptcy. I don't see any blame being placed on congress, they held the hearings with the auto CEO's. Bush knew his time was limited and left half of the TARP money for Obama. I guess it is better to have an orderly liquidation. It was coming no matter who was president. They hadn't made a profit in many years. posted by
VirgilAnderson
on Jun 5, 2009 at 08:44 AM
Hey ! You guys know Cheney likes the idea of Gay ( same-sex ) marriage ? --virgil posted by
VirgilAnderson
on Jun 5, 2009 at 08:46 AM
He admitted to it the other day ... --virgil posted by
TSM
on Jun 5, 2009 at 08:58 AM
He only had a month left in office GM was in trouble long before December, but like Katrina, Bush did nothing until long after the damage was done.
posted by
Laurah
on Jun 5, 2009 at 09:01 AM
Bush knows how to write? C'mon, catpaw, you're pulling my leg. posted by
rwestfall
on Jun 5, 2009 at 09:14 AM
I'm not a big fan of government jumping into private industry anyway. I never was onboard with any of these bailouts. So you feel the government should save all companies? Bush gave them enough to keep the doors open for his watch. They didn't do much better with Obama's watch. It seems Obama wasn't going to continue to write them checks either. TARP was to help the financial sector not the auto industry. The auto Industry already had 25 billion in loans from the government to re-tool their plants. The TARP funds had to be approved by congress. The president needs congress approval to hand out that money. But lets go blame Bush for the failure of the auto industry too. GM was in trouble long before December Hmmm I'm pretty sure I said that -- It was coming no matter who was president. They hadn't made a profit in many years. Bush did nothing until long after the damage was done. I wasn't aware the auto industry was a government subsidized program.
posted by
randomfactor
on Jun 5, 2009 at 09:24 AM
They hadn't made a profit in many years. Among other problems, they thought they were a bank instead of a manufacturing company. posted by
TSM
on Jun 5, 2009 at 09:40 AM
I wasn't aware the auto industry was a government subsidized program Letting GM fail would have had a domino effect across the entire economy. But the damage to date could have mitigated if the problem wasn't ignored by the previous administration.
posted by
defyinggravity
on Jun 5, 2009 at 09:44 AM
You guys know Cheney likes the idea of Gay ( same-sex ) marriage ?-Virgil Um... What does that have to do with the topic at hand? posted by
defyinggravity
on Jun 5, 2009 at 09:49 AM
I agree with you TSM. GM has a hand in so many things if they had failed the manufacturing companies that make the auto parts for their vehicles would have gone under. The workers would have lost their jobs and dealerships would have to close (woops)... It would have been a huge catastrophic disaster. If they can at least get their ducks in a row MAYBE GM is somewhat salvagable. But i whoel heartedly agree... the government being involved in any sort of private industry makes me nervous. Gives them too much power and man is easily swayed by power. posted by
VirgilAnderson
on Jun 5, 2009 at 09:50 AM
um ... That the bush Jr. Administration was both inept and depraved. --virgil posted by
rwestfall
on Jun 5, 2009 at 10:03 AM
You are aware GM has failed. They happen to be in bankruptcy NOW. USA & Canada owning 72% UAW owning 17.5% Bondholders owning 10% Letting GM fail would have had a domino effect across the entire economy. I think it has failed. It's just not owned by the stockholders anymore.
posted by
VirgilAnderson
on Jun 5, 2009 at 10:06 AM
OT a bit. You know, the national debate over same-sex marriage perhaps would have been less divisive ... less venal. --virgil posted by
defyinggravity
on Jun 5, 2009 at 10:36 AM
But... seriously. The topic was about GM and you bring up same-sex marriage. It has NOTHING to do with the discussion. And just because he didn't really voice his true opinion during office doesn't suggest that he was inept. It just shows good politics. Because if the people who voted for "la bush" the second time around had known of cheney's stance on gay marriage Bush wouldn't have won a second term with the landslide that he had. And what, people aren't allowed to change their minds? And just because you may think supporting gay marriage makes you depraved doesn't mean other people do. Like you, i'm sure, believe in the bible, but I don't. Doesn't make me or you any less wrong or unentitled to your opinion. And true... yes they have filed for bankruptcy. And they have techinically gone under. But... it was only bankruptcy. They're not dead yet. It's like their in a coma on life support. And hopefully they wake up before too long. Know what I mean? posted by
ronmexico
on Jun 5, 2009 at 10:47 AM
Hey ! You guys know Cheney likes the idea of Gay ( same-sex ) marriage ? --virgil
Yup... He thought the states should decide whether gay marriage should be legal..... Guess you missed that part... posted by
VirgilAnderson
on Jun 5, 2009 at 10:49 AM
Defy, Cheney was depraved for the reasons he was not sincere ( among manny other things) when representing the U.S as vice President for Jr.. The guy is kinda smart; and, we know he read the U.S. Constitution. We can presume reasonably he understood most of what he read it, too. It did not seem to matter to him and his ... That's what I mean. --virgil
posted by
VirgilAnderson
on Jun 5, 2009 at 10:53 AM
Ron, You know, as well as I do, you guys would not be so smug in your self-righteous delusions about prop. 8 without Utah's help. --virgil posted by
randomfactor
on Jun 5, 2009 at 10:53 AM
He thought the states should decide whether gay marriage should be legal..... Six have so far. Seven if you count California (which I do.) New York probably next. posted by
jfrancais
on Jun 5, 2009 at 01:20 PM
I agree with you, RWestfall. Private industry should stand on its on two feet. The buck has just been passed with the bailout monies and the American (and Canadian) people will foot the bill. posted by
antiextremism
on Jun 5, 2009 at 01:56 PM
Which begs the question Virg.....would the Dick be so supportive of gay rights if his daughter was straight?
posted by
antiextremism
on Jun 5, 2009 at 01:58 PM
I think the banks pretty much had to be bailed out. As for the auto industry, economics aside, were we to get into a ground war with a real power, we sure would want those assembly lines. They came in real handy during WW II posted by
jfrancais
on Jun 5, 2009 at 02:07 PM
We have plenty of assembly lines in the US. There's Toyota, Honda, Mercedes, BMW...
posted by
VirgilAnderson
on Jun 5, 2009 at 02:17 PM
Antiex, I imagine Dick will always be a Dick ... --virgil
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