Cheney admits it: Bush bolstered GM so it would fail on Obama's watch, not his.

[flvegan]

During an interview on Fox News last Tuesday, Cheney revealed that during his presidency George W. Bush did not want to be the one who “pulled the plug” on GM.

“I thought that, eventually, the right outcome was going to be bankruptcy,” Cheney said, referring to GM. “It had to go through such a dramatic restructuring to have any chance of survival that they had to be able to renegotiate labor contracts and so forth, and the president decided that he did not want to be the one who pulled the plug just before he left office.”

Cheney said that rather than acting on GM, the Bush administration “put together a package that tided GM over until the new administration had a chance to look at it.” This included the original $17.4 billion auto industry bailout package signed in by the Bush administration late last year, which was designed to give the incoming Obama administration some time to adjust and make preparations for the inevitable GM bankruptcy.

GM is expected to emerge from its ongoing bankruptcy in about 60 to 90 days as a separate New GM, of which 60.8% will be owned by the U.S. government. The restructured company will also be responsible for approximately $17 billion in total consolidated debt, as opposed to the $172 odd billion the old GM was servicing.

http://www.motorauthority.com/dick-cheney-george-w-bush-didnt-want-to-pull-the-plug-on-gm.html


Sorry if this is a repost, but there's been a lot of GM/White House talk today, and I thought this was worth pointing out.

[DS1]

1. Nice catch!

[FarLeftRage]

2. Of course they did...

It's called passing the buck, or more appropriately shirking one's responsibility...

Rotten fuckers!!

[bridgit]

5. That has to be why g.w. bush was their guy - all hat no cowboy

[FarLeftRage]

7. Absolutely

They got him in there and he didn't know, nor did he care.

It was one big, twisted and sick game they played at our expense.

[bridgit]

3. republicans - bunch'ah game playing assholes

[jeff30997]

4. K&R

[TheBigotBasher]

6. The only thing consistent

is that Bush was a coward and he would have done the same to McLame.

[glitch]

9. Very good point. nt

[liberal N proud]

8. The entire bu$h regime was about kicking any fiscal responsibility can down the road

[NewJeffCT]

16. You're right

they were juggling shit for several years in hopes of passing it on to the next president - hence, the borrow & spend policies, the stimulus rebates, etc.

[DCKit]

28. See "Reaganonomics". n/t

[csziggy]

10. That was clear when Bush wouldn't loan the auto companies money

Until Obama asked him to. They wanted Obama to be the one that got all the blame for 'nationalizing' the car industry.

[progressoid]

11. Losers.

What haven't they fucked up?

[Quantess]

12. Yeah, they were hoping the financial collapse would happen after Jan 2009 as well.

[flvegan]

13. Kick for the day crew.

[Vidar]

14. Good find.

[NewJeffCT]

15. Just like buying off the Iraqis lasted until not long after the inaugeration

and we now have had an upsurge in violence.

[Soylent Brice]

17. no apology necessary, and thank you for posting!!

[and-justice-for-all]

18. The whole thing was a massive set up to make Obama look bad..

I fucking can not stand repukes!! They knew a Dem was going to win the election, so they put a brink on the gas peddle and let it dive over the cliff.

[DAMANgoldberg]

30. I agree, but...

I think they would have done the same thing to McCain, because he isn't in their group. They are only out for themselves.

[and-justice-for-all]

32. I agree...

but the results would have been completely different; I can not even begin to imagine what a McFalin world would look like.

[HOLOS]

19. K&R

[MessiahRp]

20. Fucking scumbags....

Everything is political to these assholes.

Rp

[RedCloud]

21. Vintage Bush dick heads, So now go investigate the bastards.

Show them no mercy.

[RetroLounge]

22. K&R

:hi:

RL

[omega minimo]

23. And now the actual president is trying to stab Dubya in the back?

[Wednesdays]

24. K&R

:kick:

[Kokonoe]

25. Cheney the history teacher.

Who'd a thunk it :sarcasm:

[customerserviceguy]

26. Well, that's Darth Cheney's way of lobbing a grenade in our midst

As I recall, in the very first meeting that President-Elect Obama and Bush had in the White House, one of the things that Obama asked for was some help for the auto industry. I think that President-to-be Obama figured that he would find a way to help things.

Dick's comments are self-serving, and are designed to entertain the wingnuts. He does that by enraging us. We choose whether or not to give him his jollies.

[Jack Rabbit]

27. Could be true, but I won't believe it for sure until I hear it from the Frat Boy

Yes, Cheney's credibility is that bad.

[MC Blitzen]

29. cheney the terrorist

Dick, what was the justification in confiscating the footage of a plane hitting the Pentagon? are we the people ever going to get to see THAT? oh wonder why not? wake up Cheney, you ruined a lot of people and resources, countless

[Tab]

31. They set a LOT of things up to expire / fall dead on Obama's watch

Just barely eke through the last few months of the 43rd administration.

Cheney is typical Cheney. How much do you want to bet he was complicit in arranging the delay of GM?

All he's doing now is throwing Bush under the bus to save his own ass.

[SpiralHawk]

33. Typical whimp out from xCommander AWOL & Republicon Chickenhawk cronies

Republicons don't do competence, honesty, or responsibility

[david13]

34. Doesn't matter. It isn't Obama's fault.