The Durango's Back in Your Court, Mr. President
As I type this Dow futures are down 320 points, S&P futures are down nearly 37 and Nasdaq's futures are down 50 points. As Harry Reid said late last night: “I want everyone to understand that when we vote tonight, it's over with. I dread, Mr. President, I dread looking at Wall St. tomorrow.”
So, Congress failed to bailout the Big Three – the Senate vote of 52-35 was eight short of the 60 needed to overcome a filibuster. And in the post-nuclear remains of a second failed bailout vote (for anyone who doesn't painfully remember, the Dow Jones dropped nearly 777 points after the House failed it's first attempt at the banking bailout), President Bush, in what may be his final significant act as president, is now forced to step into the breach. Word on the Hill last night was that Bush may act as early as today to extend TARP loans to GM and Chrysler (Ford has said it doesn't need short term loans). Here's the latest from me about last night's meltdown.
-
1
JNS do you have a link to the vote? I am curious about who didn't vote and where a guy like Lieberman came down.
-
2
Vote Results. So, did Reid vote Nay for some procedural reason, I guess?
-
3
Jay,
You've done a good job blogging about this dreadful episode, but I wish you would have been more informative about the lame duck Republican's role in scuttling this.Here's the vote: The Associated Press: Senate roll vote on $14B auto bailout
Lieberman voted yes.
-
4
coffee's quicker on the draw than I am, I see.
-
5
coffee, thanks for the cloture vote tally. So, as I count it, 8 dems voted against or didn't vote. If they voted for it that would have been 60. So explain to me how this is not a bipartisan decision.
.
And explain to me why I don't see Corker on CSPAN right now reading the phone book. -
6
wish you would have been more informative about the lame duck Republican's role in scuttling this
I don't know how she could have been clearer.
Again JNS, thanks for your work. -
7
I'm furious about this. At the same time, it's really sad these companies couldn't hold on for 3 weeks until the new congress sits.
-
8
@wvng - I think the fairest accounting is that only Tester and Baucus jumped ship.
-
9
Um, why did Harry Reid vote against this? That's helpful.
-
10
I think Reid votes NO so he can reintroduce the bill.
Procedural. -
11
PNNTO:
Correct. -
12
paul-paul Thanks.
.
I wonder if the Republicans realize that a good many of the 42% of the electorate who doesn't want to bail out Detroit think that it's really only Detroit and maybe a few of their local car dealers that are going to be affected. -
13
Dirks,
I would have preferred LAME DUCK SOUTHERN REPUBLICANS CONSPIRE TO DESTROY THE AMERICAN AUTOMOBILE INDUSTRY. Something like that.
. -
14
ouch. grammar apology
-
15
JamesLA. agreed. My local teevee station said this morning the bill failed because the workers wouldn't agree to wage cuts.
-
16
Mike Vaccaro talking about "bail-out fatigue." Christ on a stick. I'll show you fatigue.
.
O'Donnell says Bush willing to look at TARP money. I wonder how many foreign leaders are burning up the wires telling the President to effing take care of this. -
17
the workers wouldn't agree to wage cuts.
It's amazing how the need to gloss over details in order to bring news quickly results in outright lies.
Do we think there's a difference between taking a wage cut with the new contract and scuttling the existing contract? Do we think that the Rank and File still retaining a vote on their own livelihood no longer matters?I'm no fan of Unions but I have significantly less patience with professional liars.
-
18
kathy,
.
no one is noting that the movers behind this are southern republicans with non-unionized foreign auto plants in their states. What they are really after is to bust the UAW.
.
You would think that journos, who are suffering their own industry shakeout, would be a little more attuned to the effort of the GOP to destroy unions. The end goal is to have free reign for cheap labor without benefits. That's what they are trying to do. -
19
When will people learn that republicans are not your friends if you are not wealthy? When are they going to learn that republicans hate the middle class and working people.
And these southern senators want to kill the American auto industry and throw 3 million out of work to help out their foreign auto manufacturers.
I can see wanting to help your own state but, should the good of America come before that. The good of the people??
I just hope that people remember the cold hearted way republicans view the American worker when elections roll around. -
20
Then again, maybe journos WANT lower wages and fewer benefits. They usually write up the anti-union stuff the GOP gives them without a thought.
-
21
I just saw the vote. I know my senator, Dick Durbin, would have voted for it. We have plants here and Durbin cares about the middle class. No way he would not vote for it.
He's been an excellent senator for the people here.
I am guessing he was not in Washington. Probably dealing the problems in Springfield. -
22
James wrote:
Then again, maybe journos WANT lower wages and fewer benefits. They usually write up the anti-union stuff the GOP gives them without a thought.You got that right. They have done nothing to disabuse the lie that UAW workers make $75.00 an hour. They actually make about $27.00 (and those at Toyota make $30.00) but, who are they to give us correct facts when it comes to the republicans. They always repeat the republican lies and talking points like they are written in stone.
-
23
James LA - actually, I saw that laid out very well last night. On Maddow, I think. Where the plants are in which states. Morning Joe mentioned it too. So it's out there, it's just not the principle narrative, which it needs to be.
-
24
.
Yep. MADDOW did a great job on that last night.
. -
25
JNS -- If you were a columnist and could offer your opinion, how would you characterize the Republicans and Democrats in the Senate?
Most Popular »
- Undercover Boss Is Phony and Manipulative. But Don't Hold That Against It.
- NH Poll: Dems Face A Thumpin'
- NBC: There Was Never a Conan O'Brien
- Paul Ryan Won't Run For Prez In 2012
- Today's Health Care Checkup - GOP Plans Under the Spotlight
- CO Gov Poll: Hickenlooper +4
- Love At First Byte: Your Nerdy Valentine's Day Guide
- Do You Spend Less than $2,000 Annually on Internet, TV, Cell Phone Service, and Video Games?
- In The Spotlight, Paul Ryan Faces A Purity Test
- Barack Obama: Then vs. Now
- Asian Carp Battle: Foreign Fish Threaten Great Lakes
- Is the Bible Fact or Fiction? Archaeology's Discoveries
- Spain's Troubled Economy: Fears Over Euro Zone Outlook
- Kennewick Man, Archaeology Find: Who Discovered America?
- Al-Qaeda, Yemen, Wedding: Unlucky Name, Celebration
- Tea-Party Convention: Lessons on Palin and the Movement
- Venezuela: Chavez Protests at Ball Game Over Electricity
- Jim Frederick, Black Hearts in Iraq's Triangle of Death
- Why China Needs The U.S. -- And Vice Versa
- Marja: Operation Moshtarak Tests Obama's Afghan War Plan













RSS