Home -> Law Blog Directory -> Academic Blogs -> Conglomerate

Academic

: Conglomerate

The Auto Bailout and Democracy

By Gordon Smith, Christine, Hurt, Vic Fleischer, Fred Tung, Lisa Fairfax, David Zaring

div xmlns="http://www.w3.org/1999/xhtml"pEarlier this week, a href="http://marketplace.publicradio.org/display/web/2008/12/17/pm_reich_commentary/"Robert Reich/a expressed his concern over reports that the Bush Administration would bail out the Big Three even after Congress refused: quot;An economic crisis is no excuse for turning our back on democracy.quot;/p pToday the Bush Administration announced that it would providenbsp; $13.4 billion to the car makers immediately from the Troubled Asset Relief Program. Another $4 billion would be made available in February. /p pA blow to democracy? Or democracy vindicated? /p pRemember that the House of Representatives passed a bailout plan, but Republicans prevented it fromnbsp; coming to a vote in the Senate. The loan announced today extends a lifeline to the Big Three while we wait for the consummation of our uncommonly long transition of power to the Democrats. a href="http://www.nytimes.com/2008/12/13/business/13auto.html?_r=1"Bush avoids being Herbert Hoover/a, and the Obama Administration is given the opportunity to deal with the problem. /p pIt's a no-brainer./p/div div class="feedflare" a href="http://feeds.feedburner.com/~f/theconglomerate/feed?a=P7u8O"img src="http://feeds.feedburner.com/~f/theconglomerate/feed?i=P7u8O" border="0"/img/a a href="http://feeds.feedburner.com/~f/theconglomerate/feed?a=bH16O"img src="http://feeds.feedburner.com/~f/theconglomerate/feed?i=bH16O" border="0"/img/a a href="http://feeds.feedburner.com/~f/theconglomerate/feed?a=YzqSo"img src="http://feeds.feedburner.com/~f/theconglomerate/feed?i=YzqSo" border="0"/img/a a href="http://feeds.feedburner.com/~f/theconglomerate/feed?a=EufYo"img src="http://feeds.feedburner.com/~f/theconglomerate/feed?i=EufYo" border="0"/img/a a href="http://feeds.feedburner.com/~f/theconglomerate/feed?a=1N07O"img src="http://feeds.feedburner.com/~f/theconglomerate/feed?i=1N07O" border="0"/img/a a href="http://feeds.feedburner.com/~f/theconglomerate/feed?a=a6mdO"img src="http://feeds.feedburner.com/~f/theconglomerate/feed?i=a6mdO" border="0"/img/a /div

Full post as published by Conglomerate on December 19, 2008 (boomark / email).