Monday, December 8, 2008

Pete Sessions says auto industry has to "earn" bailout

Back in September, Pete Sessions was one of only 65 House Republicans to vote for the Wall St. bailout, a plan with no pre-conditions attached to it, a blank check to Henry Paulson, no questions asked. So what does he think about helping the auto industry?

Dallas Morning News reporter Mark Norris asked Pete Sessions about Congressional help for the auto industry:
I asked him about Thursday's automaker bailout hearings and what the next step is.
Mr. Sessions said he does not believe the votes are there in the House to pass any such legislation right now.

"They did not sufficiently prove to us that they would make the necessary changes to take their part of the equation and be successful," Mr. Sessions said. "GM is the private sector and owned by shareholders. In a free enterprise system, that is not something the government should look lightly of being a part of."

However, Mr. Sessions said he would be open to more hearings and questioning to find out more about what the automakers would do to modernize and evolve.
I agree that the auto industry needs to make a lot of changes, but so does Wall Street, which is why so many of us told Congress not bail them unconditionally. Apparently, Pete Sessions has one set of standards for people who make cars, and another for those who make money.

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