Bailout Watch 181: Republicans Ready to Torpedo GM Bailout. Or Not.
“A leading Democrat, Senate Banking Chairman Christopher Dodd of Connecticut, said he knows of no Republicans who would vote for a $25 billion auto rescue package. He added he was ‘not inclined’ to move a bill without bipartisan support, pointing out that prominent Republicans have publicly opposed the measure.” And there you have it, via The Wall Street Journal. Then again, maybe not. We know from Dodd’s profession (politician) and his connections to the mortgage industry (which his committee oversees) that the Senator’s “inclinations” are not inviolate. So perhaps the fact that House Minority Leader John Boehner called the bailout ‘neither fair to taxpayers nor sound fiscal policy’ is more germane. That’s rep Boehner of Ohio folks. “And what assurances will Democrats give taxpayers about their chances of getting their auto bailout money back?” Boehner asks in a prepared statement. While I’d like to think that the republicans have had a sudden bout of common sense and rededicated themselves to fiscal responsibility, this sounds like nothing more than pre-horse-trading political posturing to me.