{"id":3795,"date":"2008-12-11T12:06:12","date_gmt":"2008-12-11T17:06:12","guid":{"rendered":"http:\/\/www.shotinthedark.info\/wp\/?p=3795"},"modified":"2008-12-11T14:27:53","modified_gmt":"2008-12-11T19:27:53","slug":"dont-be-surprised","status":"publish","type":"post","link":"http:\/\/www.shotinthedark.info\/wp\/?p=3795","title":{"rendered":"Don’t Be Surprised…"},"content":{"rendered":"

…if the Senate denies The Big Three bailout.<\/p>\n

Ford Bailout Money Unnecessary, Company Says<\/a><\/p>\n

DEARBORN, Mich. \u2014 By shunning government loans, Ford Motor Co.’s top executives say they hope to buff up the automaker’s image and set it apart from its cash-starved Detroit competitors, General Motors Corp. and Chrysler LLC.<\/p><\/blockquote>\n<\/blockquote>\n

Why is Cerberus, one of the world’s richest private equity firms, begging for a bailout?<\/a><\/p>\n

Buried on the business page of The New York Times<\/em> Saturday were the details of Detroit’s biggest snow job yet–literally as well as figuratively. Turns out that Cerberus CEO John Snow, who spent three-and-a-half lackluster, and some might say lap-doggish, years as President Bush’s second Treasury secretary, is leading a who’s who of crony capitalists in a lobbying campaign for a taxpayer bailout to “salvage Cerberus’ investment in Chrysler.”<\/p>\n

That’s right. Not to save the jobs of Chrysler employees or America’s disappearing manufacturing base, mind you, but to prevent “one of the world’s richest and most secretive private investment companies” from having to take a relatively modest financial hit and use some of its own capital to prop up the smallest of the major automakers.<\/p><\/blockquote>\n<\/blockquote>\n

As it turns out, this may end up being a GM-only bailout. Assuming Cerberus shows some integrity, and Ford isn’t willing to sell it’s soul to Congress for a handout, will the Senate be able to save one and not give something to the other two?<\/p>\n

UPDATE: Auto Bailout Appears Dead in Senate as G.O.P. Resists<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

…if the Senate denies The Big Three bailout. Ford Bailout Money Unnecessary, Company Says DEARBORN, Mich. \u2014 By shunning government loans, Ford Motor Co.’s top executives say they hope to buff up the automaker’s image and set it apart from its cash-starved Detroit competitors, General Motors Corp. and Chrysler LLC. Why is Cerberus, one of […]<\/p>\n","protected":false},"author":228,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57,59],"tags":[],"class_list":["post-3795","post","type-post","status-publish","format-standard","hentry","category-economy-and-the-market","category-pork-patrol"],"_links":{"self":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/3795","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/users\/228"}],"replies":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3795"}],"version-history":[{"count":0,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/3795\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3795"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}