The Senate's Bailout of Automakers

Recently, we all have heard about the financial crisis. Many industries start with banks. Banks are the first and most hit industry in this. Because many people were fired, the consumer-based industry suffered losses. This time, the automobile industry was hit. General Motors, DaimlerChrysler LLC and Ford are three big car companies. As the Senate failed to approve, its $ 14 billion emergency loan was canceled. Why are they doing this? What effect do you have?

The Senate has been condemned to be immature, and the Senator explained it as a "bunch of gnomes" in the policy debate. He raised doubts on automaker 's "stupid" relief and made a proposal to say "very pursue" federal gas tax on Senator John McCain and accused the Senate during the 2013 government closure . Senator Ted Cruz. Cork said he was tired of not being able to finish his term, he said he was considering withdrawing from Congress during his initial term. He often insults Senator, but it sounds almost trustworthy

This week, the Senate has launched a bill to ease some regulations of the country's largest bank. Independent Parliamentary Budget Bureau stated that this bill would increase the risk of future relief. This is a dangerous proposal. The Senate Republicans voted unanimously, but without the support of the Senate Democratic Party over the dozen, the bill would not be a law. This is the truth. However, since I have summoned the support of several democratic colleagues, I am keenly enthusiastic from the Democratic Party of Japan. I understand - let's clarify someone of their team, who does not like being criticized by anyone. I agree that Democratic colleagues are more than my Republican colleagues.

On Saturday, September 20, Minister Paulson and Federal Reserve Ben Bernanke issued a bank remedy bill to Congress. Until September 29, the Dow Jones Index rose by about 11,000 points until the Senate voted against the bailout bill. The Dow Jones index dropped by 777.68 points, the highest ever recorded. The global market is also panicking: JP Morgan Chase manages the FRB's money financing tools for money market investors. The company purchased up to $ 600 billion in deposit certificates, bank notes and commercial paper. These expire in 90 days. The remaining $ 60 billion comes from the money market itself. However, they also purchase commercial paper from MMIFF.