Class Warfare Continues

An illustration of the class warfare taking place now can be described as simply as this: People are being treated differently based on whether they shower before going to work or after.

The individuals who shower before were given a blank check -- no questions asked. While individuals who shower after work are still being asked to jump through hoops -- and there is no end in sight.

People who pushed paper around, who don't "make" anything, were given $700 Billion within days.

People who actually manufacture a product, and whose product line provides jobs for millions of Americans, have been waiting weeks on a response to their request for $15 Billion.

President Bush announced that he wouldn't let the auto industry fail on his watch, but if he doesn't stop "watching" and take action that is exactly what's going to happen.

The White House raised for the first time on Thursday the prospect of forcing General Motors and Chrysler into a managed bankruptcy as a solution to save the companies from financial collapse. [...]

“There’s an orderly way to do bankruptcies that provides for more of a soft landing,” Ms. Perino said. “I think that’s what we would be talking about. That would be one of the options.” [...]

These officials said the preferred solution would be to force a restructuring of the industry outside of bankruptcy court, extracting concessions that would make the companies more cost-competitive with foreign automakers.

In return, the Treasury would tap the financial rescue fund, called the Troubled Asset Relief Program, to make loans to the companies.

After a week of talks between the automakers and the Treasury Department over the terms of a possible bailout, Ms. Perino on Thursday said, “we’re very close.”

Yeah, as soon as they get the UAW to disband, watch the money flow!

What the White House appears to be envisaging is a package deal of concessions — and an injection of money from the TARP, the $700 billion financial bailout fund — to keep credit flowing for G.M. and Chrysler.

What concessions did the banking industry make?

This has to be the most comical paragraph in the entire report:

“The autos obviously are very fragile,” he said. He added that he was concerned about what President-elect Barack Obama would face on Jan. 20. “I believe that good policy is not to dump him a major catastrophe in his first day of office,” he said.

I'm reminded of the SNL Weekend Update segments where Seth and Amy would just keep repeating the word "Really???" . . . Is Bush serious? REALLY??

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