DLA For Sunday 062710

From an unlikely source, hails Truth and Logic.

Hey folks,

That's right. Today's winner of the Display of Logic Award is someone that actually Benefited from the Dodd-Frank Bill. Someone that was exempt from it. But it was his one statement that won him the Award. Here is his Statement on the Exemption of the Auto Industry.

Auto Dealers Excluded from Wall Street Bill

Brownback/Campbell Language Adopted Over Stiff Opposition

WASHINGTON, June 25 /PRNewswire-USNewswire/ -- House and Senate conference committee negotiators voted in the early Friday morning hours to exclude Main Street auto dealers from sweeping legislation to overhaul the nation's financial system. The long-fought victory for auto dealers and consumers preserves dealer-assisted financing as an affordable option for car buyers.

"Today's vote by the conference committee is truly a win for consumers," said Ed Tonkin, chairman of the National Automobile Dealers Association (NADA) and a dealer in Portland, Ore. "Dealer-assisted financing will continue to provide more convenience, more competition and more choices for car buyers."

"This is also a testament to the hard work of all of the auto dealers and dealership employees around the country who made sure that the merits of the issue were heard. Their grassroots efforts truly made today's victory possible," Tonkin added.

Within a week, the bill will return to the House and Senate for a final vote prior to reaching President Obama's desk for his signature. Today's favorable vote comes after stiff opposition to the exemption by the White House, Pentagon, the Department of Treasury and other groups. Nevertheless, the president has indicated that he will sign the legislation.

"The goal all along was to keep a new, untested government agency from creating burdensome and unnecessary rules that would make it harder and more expensive for car buyers to access auto credit," Tonkin said.

In late 2009, House Financial Services Committee member John Campbell, R-Calif., generated strong bipartisan support for an amendment to exclude dealer-assisted financing from an unwieldy new agency with almost unlimited authority to fundamentally alter the vehicle financing process.

After the Campbell amendment passed the House, Sen. Sam Brownback, R-Kan., took up the cause in the Senate. Grassroots efforts by dealers and dealership employees garnered a 60-30 vote urging Senate conferees to accept the House language to exclude dealerships from the proposed agency. As a concession to secure the dealer exclusion, the Federal Trade Commission, which already oversees dealer-assisted financing, was granted expedited rule-writing authority over unfair or deceptive practices.

"The nation's 18,000 dealers applaud the persistent efforts of Rep. Campbell, Sen. Brownback and the bipartisan support from both senators and representatives who recognized the need for a balanced approach to protecting consumers while allowing continued access to affordable auto credit," said David Regan, NADA vice president of legislative affairs.

About NADA: The National Automobile Dealers Association, founded in 1917, represents nearly 17,000 new-car and -truck dealers with about 37,500 franchises, both domestic and international. For more information, visit www.NADA.org and www.NADAFrontPage.com.

Source: National Automobile Dealers Association

Did you catch it? He just told the truth. He said this.

"The goal all along was to keep a new, untested government agency from creating burdensome and unnecessary rules that would make it harder and more expensive for car buyers to access auto credit," Tonkin said.

Too bad this untested government agency will create burdensome and unnecessary rules that will make it harder and more expensive for everyone to just do normal everyday Banking. Too bad this untested government agency will create burdensome and unnecessary rules that will make it harder and more expensive for Financial Institutions to do business. Too bad this untested government agency will create burdensome and unnecessary rules that will make it EASIER for Government to come in and shut down competition of their friends.

Congratulations Mr. Tonkin, you are the Winner of the Display of Logic Award for today, Sunday, June 27, 2010. Thank you for, but you better be careful of, telling the truth about these Loons. Good job at getting the exemption.
Peter

Socialism Next Victim, The Auto Industries

First the warnings, then the take overs.

Hey folks,

The next victim of Obama's Socialistic Agenda is the Auto Industries. He is setting them up to fail and claiming that it is his job to fix them. It's not. Not even close.

Obama said this.

"We will provide them some help," Obama said. "I know that it is not popular to provide help to auto workers — or to auto companies. But my job is to measure the costs of allowing these auto companies just to collapse versus us figuring out — can they come up with a viable plan?"

No Mr. President. It is NOT your job in any way shape or form to save, bailout, dictate, control, or do ANYTHING with Private Business. Sorry. It just is not. Your, and ANY President's number one job is to keep America SAFE. How are you doing with that?

It is NOT your job Mr. President to "measure the costs of allowing these auto companies just to collapse versus us figuring out — can they come up with a viable plan?" If they make mistakes and they fail, they FAIL. Someone will figure out a way to either bring them back or start NEW companies. So sad, so long, see ya.

"If they're not willing to make the changes and the restructurings that are necessary, then I'm not willing to have taxpayer money chase after bad money."

You should not be giving them, Banks, Financial Institutions, Insurance Companies, or ANY Private Businesses Tax Payers money. That is NOT your job. It is NOT the job of Government.

"Everybody is going to have to give a little bit — shareholders, workers, creditors, suppliers, dealers — everybody is going to have to recognize that the current model, economic model, of the U.S. auto industry is unsustainable," Obama said.

What everyone should recognize that the Obama "Economic Plan" is unsustainable. Not only is it unsustainable, it is beyond dangerous and bringing us into an area that we should never be heading.

Obama said his job was to protect U.S. taxpayers and he wouldn't spend federal dollars on "a model that doesn't work."

HELLO??? AIG? Fannie and Freddie?

The president said the industry has been hamstrung by the sharp decline in auto sales. Last year the industry sold 13.2 million new vehicles in the U.S., but the annual sales rate has dropped to around 9 million for both January and February. Obama said many Americans are struggling to get auto loans and are wary of big-ticket purchases as jobs disappear.

Why do you think that is? Absurd Regulations?

The president said that even as the economy bounces back, Detroit can't focus on "trying to build more and more SUVs and counting on gas prices being low."

Yeah because Obama WANTS the Gas Prices to go back up. He has said so. He likes High Gas Prices.

In that vein, the administration on Friday is expected to announce plans to raise fuel efficiency standards by 2 miles per gallon to 27.3 mpg for new cars and trucks in the 2011 model year, an administration official said Thursday. That would be the first increase in passenger car standards in more than two decades.

Under the changes, new passenger cars will need to meet 30.2 mpg for the 2011 model year and pickup trucks, sport utility vehicles, and minivans will need to reach 24.1 mpg, according to the official, who spoke on condition of anonymity because the person was not authorized to speak in advance of the announcement.

So let's put even MORE absurd regulations on them and then say if they fail, uh, what? You just got done saying that they can not fail, so this is why you Mr. President justify bailing them out. Yet if they do not do what you tell them then what? Are you going to take the money back and let them fail? I thought they were to big to fail. I know, I know, you will just use the new authority that you are trying to get to justify taking over yet another PRIVATE Industry. Right?

But what about them being forced to build cars nobody wants? I love this answer.

Gibbs said Obama still thinks U.S. automakers build cars that Americans want to buy. Both he and the president own Ford Escape hybrids. "It's a nice car," Gibbs said. "It really is."

{Laughing} It's a nice car. The President is happy with it, so you should be too. Talk about arrogance. Folks, Obama is setting up the Auto Industry to fail. When they do, he will be there to take them over. Then we will be talking about the NEXT victim.
Peter

Sources:
AP - Obama says automakers need 'drastic changes'