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    Auto Parts Get $5 Billion Bailout: Where Does the Cycle End?

    In February, groups representing the auto parts suppliers asked for a $25.5 billion bailout from the Treasury. Yesterday, the Treasury announced parts suppliers will receive about one fifth of that through Troubled Asset Relief Funds: The Treasury Department announced a $5 billion program to aid struggling auto-parts suppliers, raising the … More

    Auto Bailout Update: Drove My Chevy to the Levee...

    The news of another auto bailout was met with a whimper last week. Surely, the little noticed request for an additional $22 billion was partly overlooked because $22 billion just doesn’t seem like a large amount of money after President Obama spent $787 billion of your borrowed dollars the week … More

    Shocking: Americans Oppose Giving More Money to Detroit

    They didn’t support it the first time around and nothing has been done to indicate to Americans that change and sustainability are on the horizon. The Detroit Free Press reports, A new survey shows that 64% of likely voters are opposed to the federal government loaning General Motors Corp. and … More

    75 Years Ago, Ford's Better Idea

    “A Conservative,” that anonymous scribe within Heritage, surfaces again for the second time in three days with a cautionary tale for the Big Three about Henry Ford, FDR and Big Government strings. This latest edition of New Common Sense, titled “Ford Faced Down FDR’s Blue Eagle,” reads as follows:   Out … More

    Morning Bell: Time to End the TARP Bailout Parade

    Senate conservatives last week waged a hard-fought and principled battle to protect both U.S. taxpayers and the integrity of the free market against the Washington establishment that favored a government bailout of General Motors and Chrysler. By late Thursday it appeared they had won. But within hours of the end … More

    TARP: Now A Slush Fund for Detroit?

    With the Senate’s rejection of a bailout for Detroit’s ailing automakers, there now comes word that President Bush is actively considering using funds allocated by Congress for the Trouble Asset Relief Program (TARP) to prop up the automakers for the time being. Such action would be wrong legally, wrong economically, … More

    Morning Bell: Bankruptcy Is Best Way to Save Auto Industry

    Last night while marshaling votes for the House’s eventual 237-to-170 vote in favor of nationalizing Detroit, House Majority Leader Steny Hoyer (D-MD) told the Wall Street Journal: “If we do nothing we face the risk that sometime soon there will be no American auto industry.” Hoyer has it exactly backward. … More

    The Big Three’s Plans for Change

    A few weeks ago, CEOs from Detroit’s Big Three flew to Washington in their private planes asking for $25 billion. They were ridiculed for flying private jets and Congress sent them home, demanding they needed a comprehensive plan to even consider loaning this kind of money to the automakers. They … More

    Video: Bankruptcy, Not a Bailout, Is a Better Option for Automakers

    Heritage Senior Research Fellow James Gattuso explains what happens when bankruptcy is declared and why it is a better option for Detroit Automakers [youtube]http://www.youtube.com/watch?v=6wKGODqsZ2o[/youtube]

    The Auto Bailout & The Bankruptcy Myth

    When I think of bankruptcy I think of this. That’s right, the Monopoly Guy. Pockets empty. Shoulders shrugged. Game over. All the jobs will be wiped off the face of this earth and bulldozers will tear down the buildings. I’m guessing a lot of people think this way when they … More