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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (45449)	11/21/2008 4:06:13 PM
From: $Mogul	2 Recommendations Respond to of 149317

LOL..well maybe Bush will go duck hunting with Cheney over the weekend or we start the Bush impeachment hearings now..and Obama and cabnit just all show up. Those are the only two scenarios:)

To: Lizzie Tudor who wrote (45449)	11/21/2008 4:09:29 PM
From: tejek	Respond to of 149317

Is there any way these people can start work TODAY? They already have.....the market closed up 493 points.

To: Lizzie Tudor who wrote (45449)	11/21/2008 4:11:57 PM
From: stockman_scott	Read Replies (1) \| Respond to of 149317

Pelosi Says She Rejects Bankruptcy for Automakers (Update1) By Christopher Stern Nov. 21 (Bloomberg) -- House Speaker Nancy Pelosi rejected bankruptcy as a solution for domestic automakers, saying it would be “digging a hole far too deep.” President-elect Barack Obama’s transition team is exploring a swift, prepackaged bankruptcy for automakers as a possible solution to the industry’s financial crisis, according to a person familiar with the matter. “Rather than going to that next step, let’s hope we can solve it before that,” Pelosi said at a briefing in Washington. Bankruptcy by the automakers would have “a devastating impact on the workers, on the economy, on the manufacturing base and on the confidence of the country,” she said. Pelosi and Senate Majority Leader Harry Reid yesterday blocked immediate action on loans for cash-strapped automakers and ordered them to make a case for the aid next month. General Motors Corp., Ford Motor Co. and Chrysler LLC must submit viability plans Dec. 2 and Congress will meet the week of Dec. 8 to consider aiding them. Pelosi said Congress must do something to help automakers. “Doing nothing is not an option,” she said. Obama’s team has contacted at least one bankruptcy law firm to discuss ways of aiding automakers who agree to an expedited bankruptcy process, a person who requested anonymity said. Prepackaged Bankruptcy In a prepackaged bankruptcy, an automaker would go into court with a business plan and financing in hand after reaching agreements with lenders, workers and suppliers on what each would give up. It’s a quicker process than regular bankruptcy, taking a year or less compared with up to five years for the ordinary Chapter 11 procedure. The Bush administration today criticized Democrats failing to pass aid for automakers. “It is appalling that Congress decided to leave town without addressing a problem that they themselves said needed to be addressed,” spokeswoman Dana Perino told reporters flying with President George W. Bush to a meeting of Pacific Rim nations in Lima. Perino also attacked Democrats’ plans to weigh the viability of the auto companies survival. “How in the world are 535 members of Congress going to determine the viability of a company?” Perino said. “It’s mind- boggling. They can’t even get together to pass a Mother’s Day resolution.” To contact the reporters on this story: Christopher Stern in Washington at cstern3@bloomberg.net Last Updated: November 21, 2008 11:48 EST