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November 14, 2008
Democratic Double-speak on bailout bill
Senate leaders have changed history-literally and retroactively. Senators Levin and Dodd inserted language into the Congressional Record to make it appear that the intent of the Bailout Bill was to aid automakers. This occurred after the Bailout Bill was passed.
If Republicnas had engaged in such deception, the media would have been publicized this far and wide. As far as I can tell, only Wall Street Journal columnist Kimberly Strassel has revealed this "feat".
The plan? Make it the Bush administration's responsibility to give Detroit cash -- namely by claiming after the event that the $700 billion rescue package for financial institutions was in fact a rescue package for auto makers. This was attempted with several hilarious "colloquys" -- pre-scripted dialogues between members that were quietly inserted into the Congressional Record after the vote, all aimed at rewriting the "intent" of the law. Say, this one, from Oct. 1:
Michigan Sen. Carl Levin: "As Treasury implements this new program, it is clear to me from reading the definition of financial institution that auto financing companies would be among the many financial institutions that would be eligible sellers to the government. Do you agree?"
Connecticut Sen. Chris Dodd: "Yes, for purposes of this act, I agree that financial institution may encompass auto financing companies."
Strassel also writes of Nancy Pelosi attempts to force the decision to give aid to auto companies onto the shoulders of George Bush. Pelosi is trying to protect and serve auto worker unions-a favorite special interest group of the Democratic party. Bush might be more amenable to work out a deal had Pelosi not stonewalled on bringing up a vote on the very important Columbia Trade Agreement. However, Pelosi has prevented this agreement from coming up to vote-again, to protect and serve her union supporters.