Auto Bailout

Can someone explain to me why the government writes a check to these bozos without owning part of the company? The automakers, from the initial reports, have received the best deal from TARP. Better than any bank. The government writes them a check for $13.4 billion with another $4 billion on the way and the instructions are to come back with a viable business plan by March 31, 2009. Are you kidding me? The money could be gone by then. This will lead to the automakers coming back asking for a total of over $50 billion in my opinion. First it started at $25 billion, then it increased to $34 billion a week later, it will easily be over $50 billion in 3 months. How can it not be? This is ridiculous! This is the worst use of the TARP funds yet, and there have been many other poor uses over the past few months.

Illinois Governor Trying to Force Bank of America's Hand

http://www.cnn.com/2008/US/12/08/chicago.labor.protest/index.html

As the linked article states, Gov. Rod Blagojevich of Illinois is trying to force Bank of America to loan a bankrupt company money. He has held a proverbial gun to BofA's head by saying they will not get anymore state of Illinois business. This is ridiculous. It was irresponsible lending that got the banks into this mess. Just because the government has given banks loans does not mean banks should give bankrupt companies loans. If banks do that, the Federal Government (by way of the taxpayer) will be lending them more and more money.

I understand that the layoffs were not handled correctly, but that is the company's fault not Bank of America's. The government should be going after management, not BofA. This is ridiculous.

Oprah - Obama Link

Well it has now surfaced that a close friend to Oprah Winfrey is Harold Simmons. Who is Harold Simmons you ask? He is one of Barack Obama's biggest foes and a huge republican. He was the one behind the swift boat ads that ran against John Kerry and the William Ayers ads that ran against Barack Obama. Mr. Simmons gave millions to both of those campaigns. The one against Kerry was probably more successful than the one against Obama.

Harold Simmons has given $5 million to Oprah's school in Africa, and is her neighbor in California. She referred to the family on her show a couple of weeks ago when she was talking about the California fires.

Another interesting fact that surfaced was that Winfrey, who is a huge Obama supporter, only gave to his primary campaign, not his presidential campaign.

Why am I writing about Oprah's relationship with Harold Simmons? Because people are attacking her for her relationship to Harold Simmons, while she was clearly in the Obama camp. Last time I checked we lived in a free country. Just because Oprah and Harold Simmons do not see eye to eye on political issues, doesn't mean they shouldn't be friends. This is ridiculous to even make a spectacle of this situation. Oprah and Harold Simmons have done nothing wrong (Simmons has had to pay fines in the past because of political contributions, but for the most part he has not broken any laws, and has done great philanthropic work). They've just supported their political views. This is America people. Land of the free.