This morning at 9 a.m., George W. Bush decided to pass the troubles of the US automakers over to the incoming administration by approving a $17B loan package to General Motors and Chrysler. Not only will the automakers get enough to keep them from drowning for 3 months, but they also will not have to undergo a "managed bankruptcy" as many Republicans wanted them to do.
OK, we'll thank Mr. Bush for the loan, but we won't gush over it. He did say that the credit crisis is a big part of the current troubles. He did acknowledge that the downfall of the American car companies would be nothing short of catastrophic for the economy. He did concur that bankruptcy was not a viable option. It took a week for him to realize those things?
I have a suggestion for what he can do next, instead of trying to convince people that waterboarding isn't torture and/or the Iraq War wasn't his fault. He can mandate that the financial companies who were GIVEN BILLIONS of dollars with almost no oversight open up the credit markets like they were supposed to do from the beginning. Then people with good credit and secure jobs can buy those American cars they want.
So, Mr. Bush, thanks for the loan. It IS a loan that we needed badly right away. But we still can't and won't forget Iraq, Katrina, Gitmo, etc.; nor will we forget those "signings" you're doing late at night these days that are decimating the environment and women's right to choose. We're watching. Do you hear us, Republicans?
