According to sources, Democrat leadership in the House is drafting legislation to provide $25 billion in emergency loans to the Big 3 car companies – in exchange for a government ownership stake.
House Speaker Nanci Pelosi (Socialist-Calif) and Senate Majority Leader Harry Reid (Socialist-Nev) hope for quick passage during a special session that begins Monday.
According to a senior House Democratic aide, the new bill will include a provision that would give taxpayers an investment stake.
“We will have equity in the auto companies,” the aide said.
Wait a minute. What if taxpayers don’t WANT a stake in the Big 3? If they do want one…
they can voluntarily buy stock. Ford and GM stock can be had for a bargain these days. But the socialistas on Capitol Hill aren’t giving us a choice.
This is socialism at it’s finest.
Government needs to keep its nose out of business. Name one thing government does well other than tax and spend and I’ll get behind this idea 100%.
Looking back at history, think of the other nations who have government run car companies – the former Soviet Union (communist/socialist), China (communist) and of course Nazi Germany (facist), the government that gave us the “peoples wagon”.
Coming soon to a car dealership near you – The New VolksWagon, Made in Amerika. Mull it over.