The reason the auto market collapsed was because gasoline went up to nearly $5.00 a gallon and everyone stopped buying SUVs. The reason that gasoline went up to nearly $5.00 / gallon was because congress had banned all new off-shore oil drilling and all drilling in ANWR, and had bought into the global warming nonsense. Once the Drill Baby Drill campaign started, low and behold the Democrats changed their tune. Obama said he would allow off-shore drilling. From that point on, oil prices began to drop. Too late, however, the auto makers were already decimated.
--- On Fri, 11/21/08, Pete Theisen <[EMAIL PROTECTED]> wrote: From: Pete Theisen <[EMAIL PROTECTED]> Subject: [OT] Auto bailout funnies To: "ProFox Email List" <[email protected]> Date: Friday, November 21, 2008, 1:34 AM Hi Everybody! http://www.washingtonpost.com/wp-dyn/content/article/2008/11/20/AR2008112001963_2.html or http://tinyurl.com/637ydd "We kept asking: 'What are you going to do with the money?' And they said: 'We're going to save the industry.' And we said: 'Well, how are you going to save the industry?' And they said: 'We're going to spend the money,' " recalled Sen. Robert F. Bennett (R-Utah), who quizzed the executives on Tuesday. "Even those who were very sympathetic walked away from that saying: 'What can I vote for out of this?' " Rep. Barney Frank (D-Mass.), who chaired Wednesday's hearing in the House, said many lawmakers found it difficult to support a bailout for the auto industry so soon after approving a $700 billion rescue for the financial sector that has failed to calm to the markets. Instead of making more loans, some banks are hoarding the money or using it to buy weaker firms. -- Regards, Pete http://pete-theisen.com/ [excessive quoting removed by server] _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[EMAIL PROTECTED] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
