“The submission of restructuring plans by GM and Chrysler represents the next step in what has been a difficult and disappointing chapter for the American economy, but I hope will become the transformation of our domestic automobile industry into a viable, technologically advanced, and globally competitive manufacturing force.
“In the coming weeks, the Obama Administration will review these plans and assess whether the shared sacrifice required of all stakeholders affected by the auto companies’ current conditions—workers, executives, bondholders, and shareholders—will result in reasonably restructured corporations, with good, high-paying jobs for the future.
“Congress looks forward to working with the Obama Administration on any future actions that may be needed to move our domestic automobile industry on a path of global competitiveness and advanced energy efficiency technologies, while ensuring accountability to the taxpayers.”
We’re saved!!!!!
We’re doomed!!!!!
take your pick
A 135 word statement completely without any content – so anything is still possible.
Congressman is the easiest job in the world. Just release a bland statement, and then head off to Rome in the private jet.
So why are we bailing out U.S. car manufacturers only to have them close U.S. plants and leave Canada and Mexico plants open or building new outside our borders?
One thing I’m not clear about: Can Obama greenlight this bailout without Congressional approval?
I hope not; it needs scrutiny by Congress and I hope Sens. Corker and Shelby (among others) will ask the tough questions.
Too much debt + much smaller economy for years to come = CHAPTER 7 for both GM and Chrysler.
The patient has BRAIN TUMOR! You can cut off all the arms and legs you want in “shared sacrifice” but it wont cure the patient.
So I thought they were to turn in their term papers for review and then if they pass, they get the billions. I was wrong.
You turn in your paper, get the billions, then the wHoly One reviews it and blesses you with a reasonably restructured corporations, with good, high-paying jobs for the future.
There I go thinking again.
Dear Nancy Pelosi:
You can still be Speaker of the House in two years, or you can enrage the American public by keeping failed companies that have no viability on this side of Chapter 11 on welfare. You cannot do both.
“In the coming weeks, the Obama Administration will review these plans and assess whether the shared sacrifice required of all stakeholders affected by the auto companies’ current conditions—workers, executives, bondholders, and shareholders—will result in reasonably restructured corporations, with good, high-paying jobs for the future.”
Kind of contradicting herself, ain’t she? Reasonably structured? My version of that term will not come close to the automakers’ and congress’.
“In the coming weeks, the Obama Administration will review these plans ask me to review these plans and assess whether the shared sacrifice required of all stakeholders affected by the auto companies’ current conditions—workers, executives, bondholders, and shareholders—will entitlement programs I have always wanted will result in reasonably restructured corporations, with good, high-paying jobs for the future. pathetic automotons who answer to my every whim.
“Congress looks forward to working with the Obama Administration on any future actions that may be needed to move our domestic automobile industry on a path of global competitiveness and advanced energy efficiency technologies, while ensuring accountability to the taxpayers. Obama’s my bitch.”
President Pelosi has spoken.
The Pelosimobile will soon come to life.
“and assess whether the shared sacrifice required of all stakeholders affected by the auto companies’ current conditions—workers, executives, bondholders, and shareholders” – aren’t the american people stakeholders now, too, what with having given them billions of dollars already?
Can someone please tighten up the bolts in Pelosi’s neck until her eyes are closed.
Why all the hate toward Pelosi?
Is it because she’s a:
woman
Democrat
liberal
from San Francisco
all of the above?
@210delray
Why all the hate toward Pelosi?
none of the above.
i don’t hate her, but i don’t have much respect for her. she was basically calling the citizens who didn’t believe in TARP ignorant. i disagreed with TARP (in part because of the lack of oversight, the top-down approach, illiquidity and the lack of consumer building confidence of the program). i don’t believe myself to have been ignorant and she brought up that sentiment a lot, including after TARP passed.
Personally, I don’t hate Pelosi because she’s a woman. I like women. I don’t even hate her because she’s a demoncrat. I don’t see any reason to hate her for being from SF. I liked my time there.
I hate her because she’s a:
-LIAR.
– manipulating back stabber.
-Not interested in doing the slightest thing that might be good for America or even California and is only interested in who will give her or her friends money, or other valuable assets.
-I might be tempted to call her a C**t or a B***h but I won’t …for now.
-Did I mention LIAR?
Personnaly I’d like to think the woman just doesn’t have a clue – but it’s obvious she does and manipulates everything to gain advantage. Actually, I wish she was on OUR side.
Because she is a lying parasite who thinks she owns my income. She is every man’s ex-wife.
I can’t wait for the Pelosi 5000 GTS Turbo!
“…Obama Administration will review these plans and assess…”
And considering how much ‘The Obama administration’ obviously knows about producing copetitive vehicles at competitive prices, who could possibly doubt their ‘assessment’ will be any less than divinely inspired?
@Kurt.
“-I might be tempted to call her a C**t or a B***h but I won’t …for now.”
Thanks!
So why didn’t she just say, “In a couple weeks, we’ll give GM and Chrysler some more money. We will continue to do so until they are profitable.”? Cause that’s all I got from her statement.