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The automaker "bailout" is dead.
CNN reports:
"Hopes for Congressional approval of a bailout of the U.S. auto industry appeared to fall apart late Thursday night as Senate leaders said Democrats and Republicans were unable to reach a compromised deal that could get the bipartisan support needed to bring the measure for the vote.
The 52-35 vote followed the collapse of negotiations between Senate Democrats and Republicans seeking a compromise that all sides could accept."
Reno and Its Discontents writes,
"Tonight’s stand by Republicans is exactly that–they hate unions so much they’re will to screw the rest of us over over peanuts.
Republicans, especially Southern Republicans, have a deep and abiding hatred of labor unions. Why? I know WalMart does a spectacular business at the expense of their employees and the U.S. economy, but really, what’s so threatening about paying a living wage and working a 40 hour work week with some holidays off to spend with your family?"
Amber Watson-Tardiff at New Jersey Moms Blog says,
"...from a local perspective, our quality of life in New Jersey will certainly suffer if something is not done to preserve the auto industry. Entire dealerships will close, thousands will be out of work, people will loose their homes as an unemployment check isn’t enough to pay the bills, and a tremendous amount of people will be without health insurance should they get sick. We aren’t punishing the auto executives by letting the industry collapse, as they already have millions of dollars in the bank to get by. Clearly then, we are only hurting ourselves by doing nothing to save Big 3 auto."
But CNN reports all hope may not be lost, "However, the Big Three could still wind up getting government funding. Bush officials warned wavering GOP senators earlier Thursday that if they didn't support the legislation, the White House will likely be forced to tap the Wall Street bailout to lend them money, two Republican congressional officials told CNN."
I've chronicled my emotions about Detroit and an auto "bailout" for months here at BlogHer. The family and friends I have in Michigan, my own ties to the industry.
Frankly I'm entirely too shocked and disappointed right now to react to what has happened tonight in the Senate.
I can only say that watching millions of jobs lost and millions more people suffer- my own government watching and doing nothing- seems cruel and unconscionable.
Erin Kotecki Vest also Queen of Spain blog













