>+ + Leading Dems Question Obama’s Authority for Auto Plan
While the liberal news outlets were delivering ridiculous Obama love missives from across the Pond, the Media Research Center’s CNSNews.com was once again doing real reporting on the important issues. Like President Obama’s highly questionable takeover of Chrysler and General Motors.
House Majority Leader Steny Hoyer (D-MD) told CNSNews.com that he does not know from where the President gained legal authority to oversee a restructuring of the two giant auto makers.
“I don’t know, technically. I would be kidding you to mouth some words on that, because I don’t know technically where that authority would be,” Hoyer said.
Senate Banking Chairman Chris Dodd (D-CT) said that he was somewhat surprised that the Administration never consulted with him about its auto industry takeover plan despite his key committee Chairmanship, and that he had only “been reading about it in the papers basically.”
The Obama Administration is executing its Chrysler/GM takeover as a part of the $700 billion Troubled Assets Relief Program (TARP) that Congress enacted last year specifically to bail out financial institutions—and not other businesses such as auto manufacturers. When President Bush asked Congress last fall to approve legislation authorizing him to use TARP money to bailout the auto industry, Congress rejected his request.
, of course, never asked for Congressional approval. He just did it.