Sunday, November 16, 2008

At Least Barney Frank Admits He Hates Detroit

He wants to put a committee of corrupt politicians in oversight:

“Yesterday, Frank said he plans to go further in the auto bill, adding bans on dividends and bonuses for highly compensated employees. Frank said he also would create a ‘very tough oversight board that, among other things, could veto ventures that would take some of this money and maybe put it overseas.’

That board would be composed of ‘the leading executive branch officials who have jurisdiction,’ Frank said, listing the secretaries of labor, commerce, energy and the environment. “

So, giving control over the auto industry to folks like Chris Dodd (D-Countrywide), Franklin Raines, Freezer Jefferson, etc., etc; etc. is going to improve things?

Detroit will never produce a car you will want to buy ever again. This is not anything that’s going to protect the taxpayers; it’s designed to protect short term union cash flow to the Democrats.

The bailout won’t even keep these folks afloat for a year under these conditions.