Friday, November 14, 2008

Republicans to Detroit: Drop dead

GOP opposes bailout for automakers, even if it means bankruptcy
David Kiley
MSNBC
excerpt-

For all the Democratic support to help the auto companies, the opposition by Republicans is just as strident. Senator Richard Shelby (R-Ala.), a member of the Senate Banking, Housing, & Urban Affairs Committee, said: "The financial straits that the Big Three find themselves is not the product of our current economic downturn, but instead is the legacy of the uncompetitive structure of its manufacturing and labor force."

He added: "I do not support the use of U.S. taxpayer dollars to reward the mismanagement of Detroit-based auto manufacturers in such a way that allows them to continue and compound their ongoing mistakes."

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