And While You Weren’t Looking

Filed in National by on September 26, 2008

The House has passed a $25 billion loan guarantee scheme for the Auto industry. And the Senate seems poised to agree to this too. Senator Carl Levin notes that there will be another round of these low-interest loans early next year.

A spokesman for the German car industry has this piece of magic to contribute:

“If the U.S. car industry does not resolve its structural problems, then all the subsidies in the world won’t help,” VDA’s Wissmann said.

Which is a perennial (though no less astute) observation, but as long as there are American taxpayers, why should the US car industry care?

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"You don't make progress by standing on the sidelines, whimpering and complaining. You make progress by implementing ideas." -Shirley Chisholm

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  1. mike w. says:
    September 26, 2008 at 12:48 pm

    This isn’t exactly surprising, and sadly both McCain and Obama support this bailout.

    http://ap.google.com/article/ALeqM5gJnOskE3GnUiA9uKVSxCFwSZuRIwD9381UMG2

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