Word: bailouts
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...continues to face a number of hurdles, including too much government overhang," says Scott Talbott of the industry group Financial Services Roundtable. Government officials say the language in a recent Senate bill requiring recipients of government "public-private" dollars to submit to oversight by the special investigator of bank-bailout funds is scaring away both sides of potential deals. "We've run into reluctance on the part of buyers and sellers," says an official. (See pictures of retailers that have gone out of business...
...Over the past five months, the Democratic monopoly has expanded the federal government by historic proportions. It began with further taxpayer-funded bailouts of Wall Street and the auto companies, then extended the bailout fever to the housing industry. After campaigning on a promise to end the Republicans’ tenure of irresponsibility, full Democratic control in Washington has produced policies that reward rampant irresponsible behavior and penalize innocent and responsible taxpayers who are forced to foot the bill...
...This is a one-shot deal and we have to be optimistic it will succeed," says Canadian Auto Workers president Ken Lewenza, adding that he had expected the bailout of GM Canada to be larger than the $2.7 billion figure first floated by Ottawa...
However Canada's willingness to offer as much as it has to GM Canada comes in the face of strong public opposition to the bailout, even in dyed-in-the-wool auto towns like Oshawa and Windsor. "Across Canada opposition to bailing out the car companies is something like 4 to 1," says analyst DesRosiers, who has more than 30 years of auto-industry experience. For $9 billion, he adds, the Canadian government could have asked any of the solvent Japanese or European automakers to build five new car plants in Ontario...
...there are sure to be times when Franken's vote will make a difference. And not always in ways that will ease Senate majority leader Harry Reid's burden. Franken, for example, was a vocal opponent of the bank-bailout plan and could try to move the planned reregulation of Wall Street to the left. Still, Senate Democrats will benefit from having one more friendly face in the chamber - and one less Republican arm to twist. "It's one more vote," Dick Durbin said with a beleaguered laugh when asked last week about the difference Franken might make...