Out of the 21 banks that received at least $1 billion in government money, none would answer four simple questions posed by the Associated Press: How much has been spent? What was it spent on? How much is being held in savings, and what's the plan for the rest?
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Congress Wants Business Plan From Automakers Democratic leaders in Congress sidetracked legislation to bail out the auto industry Thursday and demanded the Big Three develop a plan assuring the money would make them economically viable. "Until they show us the plan, we cannot show them the money," Speaker Nancy Pelosi said at a hastily called news conference in the Capitol.
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If Michigan-bred Mitt Romney doesn't think Congress should bailout the auto industry, then the plan to save Detroit might need a set of jumper cables. Mitt wrote today: Without that bailout, Detroit will need to drastically restructure itself. With it, the automakers will stay the course — the suicidal course of declining market shares, insurmountable labor, and retiree burdens, technology atrophy, product inferiority, and never-ending job losses.
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Spread out across the floor in John McCain's Senate office, Code Pink protesters chanted, "Bailout over my dead body," yesterday. Along with a plethora of cameras, the protesters then made their way over to Barack Obama's office. The group is among those Americans who oppose a Wall Street bailout.
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