Obama low key but active in auto rescue

[Dover]

Source: AP

WASHINGTON-- Even while publicly sidelining himself, President-elect Barack Obama was active behind the scenes during congressional debate this past week over an auto industry bailout.

The move illustrates the Obama team's reluctance to publicly weigh in on a dispute that was not only partisan but also divided House and Senate Democrats. With a strong chance that a deal could fail, a high-profile role for Obama would have been risky and could have linked him too closely to a congressional stalemate.


Indeed, the negotiations broke down Thursday and congressional leaders pledged to return next month, demanding that the automakers produce specific plans for restructuring the industry.

"The Obama team has to step up," Sen. Christopher Dodd, chairman of the Senate Banking Committee and one of the lead negotiators, said in Hartford, Conn., on Friday. "In the minds of the people, this is the Obama administration. I don't think we can wait until January 20."

During the congressional debate, Obama and his top aides quietly prodded congressional leaders to find a solution to rescue struggling carmakers.

Obama personally talked to congressional leaders, while his new chief of staff, Rahm Emanuel, and congressional liaison, Phil Schiliro, were routinely dialed into conference calls with lawmakers and staff to discuss the status of negotiations...>




Read more: http://www.freep.com/article/20081122/BUSINESS01/81122026

[Thrill]

1. WTF is Dodd putting this on Obama for?

[elleng]

3. Sounds like he's saying

that what has to be done won't happen WITHOUT O's help; legit, imo.

[4lbs]

5. Dodd was saying that Bush isn't doing jack. He (Dubya) has pretty much given up.

However, Obama won't be able to do much either, unless he has the "new 57 Democrats in the Senate" Congress, not this almost-even one.

[calimary]

6. And almost everyone else everywhere else has given up on junior, too. Including most of this

country.

I wish we didn't have to wait til January 20th, either. Lord knows how much else will get fucked up between now and then, while we're all still stuck under duhbya's watch. I'm kind of glad he's stymied (and probably crawled high up inside some bourbon bottle) and not doing anything. If he did get involved, he'd screw things up even worse.

[4lbs]

7. Oh, Dubya's still going to "stick it" to Obama. All those midnight resolutions, pardons, and

burrowing of civil appointees that are extremely difficult to overturn.

[Samantha]

13. He's giving Obama political cover

to quietly wade in. Others should join him (Dodd).

Sam

[yodoobo]

2. Frankly, Id rather see Obama lead the way on this

I don't think I quite understand why he doing this passively.

The man is President Elect for god sakes. There is no reason to play this passively.

[Dover]

4. The WTO is pissed. A bailout amounts to a subsidy and 'unfair trade' which could go legal.

http://bloomberg.com/apps/news?pid=20601109&sid=az43Y55hmZhY&refer=home

http://www.autospies.com/news/Are-We-Being-Fair-US-Automaker-Bailout-Raises-WTO-Legality-Concerns-37846/

[alfredo]

12. If they did complain, we can throw it right back in their face. I'm not

opposed to a loan if there is a chance they will be able to pay us back. If we loan them the money and they default, we take possession. We need to keep some manufacturing here in the US.

[sarcasmo]

8. If GM fails in the first three months of Obama's first term he is screwed and so is this Country.

[russspeakeasy]

9. But it is screwed under Bush..Why would Obama take ownership

of this bailout? He already took ownership of the $750
billion... Let the big three come back with a comprehensive
plan, or point them in the direction of a good bankruptcy
attorney...a lot of other companies have gone thru chapter 11
and emerged...are you aware that Saks 5th avenue is suffering
large earnings and that Starbucks is profit is down
90%...Should we bail them out too????
A mere $50 million would get me out of some deep shit; are you
o.k. with that? It has to stop somewhere, or they just keep
coming back for their next handout...

[sarcasmo]

15. It was A, OK to bailout the banks, but to give GM a bridge loan to keep a float that is not OK with

You? The website Free republic may be better suited for you.

[OhioChick]

10. Unfortunately, I agree. n/t

[tclambert]

11. It could be paid for with a special windfall profits tax on Exxon.

Their obscene profits caused a lot of this problem.

[fascisthunter]

14. I Really Hope So