PDA

View Full Version : Bush's Auto Bailout



Golding
12-20-2008, 02:14 PM
Whether or not this could be considered in the right board, I'm not 100% sure. There are quite a lot of boards here, and I admittedly get lost sometimes.

I have a simple question that I predictably couldn't answer from the news. I'm hoping that someone here can answer. Was there any specific authority that Bush used to grant the auto industry a bailout? My simplistic understanding is that Congress generally handles allocation of funds. Was it by Executive Order, or by some (other) fabricated authority?

I've just been curious, is all... and being in transit doesn't allow me much deciphering of events.
angelatc
12-20-2008, 02:19 PM
Whether or not this could be considered in the right board, I'm not 100% sure. There are quite a lot of boards here, and I admittedly get lost sometimes.

I have a simple question that I predictably couldn't answer from the news. I'm hoping that someone here can answer. Was there any specific authority that Bush used to grant the auto industry a bailout? My simplistic understanding is that Congress generally handles allocation of funds. Was it by Executive Order, or by some (other) fabricated authority?

I've just been curious, is all... and being in transit doesn't allow me much deciphering of events.


The Constitution says that all spending must originate in the House. Because Bush couldn't just write a check, he decided to use some of the TARP money as a loan to the automakers.

Again, he just did an end run around the constitution.
Golding
12-20-2008, 02:37 PM
The Constitution says that all spending must originate in the House. Because Bush couldn't just write a check, he decided to use some of the TARP money as a loan to the automakers.

Again, he just did an end run around the constitution.Okay, that's the piece I was missing.

Yeesh, that's even more than a run-around the Constitution. It's a run-around on the construct of the TARP legislation as well. No wonder no one is mentioning it.
amonasro
12-20-2008, 02:45 PM
I don't think he has any authority, just a blatant disregard for the Constitution. I was reading a Bloomberg article about it and it said it essentially makes the Treasury Secretary the "car czar". Yuck.
bojo68
12-20-2008, 04:09 PM
Maybe it's time to boycott GM and Chrysler....