Sunday, November 9, 2008

US Lawmakers at it again!

From the Wall Street Journal online:

"House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid sent a letter to Treasury Secretary Henry Paulson urging him to assist the Big Three auto makers by considering broadening the $700 billion Troubled Asset Relief Program to help the troubled (auto) industry."

Hmmm. I didn't know the Treasury Secretary had such broad powers, did you? The more I learn of Nancy Pelosi's legislative prowess (or glaring lack thereof), the less I like her. This is yet another bone-headed initiative spearheaded by Pelosi. Lest I digress further into oblivion, let's shift gears.

Where do the handout's end? Exacty how many billions of dollars is enough to assuage the greedy, insatiable executives of the Big Three US automakers? The recent 25 billion dollar "loan" is apparently not even enough to qualify as a tiny Band-aid. I have heard rumours of a 50 billion dollar package recently and now this announcement of unknown proportions gives me tremendous pause. Does NASA even get this much money?

Apparently, we are going to bail out these worthless companies, who squandered big profits when times were good and the SUV's and trucks rolled off the production line, but why can't we attach some strings to these handouts? Here are three ideas I have:

1. All upper management is relieved of duties within 30 days.
2. Fleet mpg AVERAGES must be 35 or greater.
3. Alternative fuel vehicles must be offered and each automaker must have a CNG, PHEV AND EV model for sale.

I realize that we are in some financial hard times at the moment, but I truly believe that foreign oil dependency is killing us. We must turn this ship around and stop the madness of driving around in gas guzzling vehicles while importing foreign oil.

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