Congressman Souder discusses potential auto industry bailout

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Posted: 2:46 PM Dec 2, 2008
Last Updated: 2:46 PM Dec 2, 2008

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Economic bailouts have dominated the headlines for months.

Mortgage giants Fannie May and Freddie Mac have been in the spotlight now that they are on the receiving end of one of the bailouts, and now the auto industry is fighting to pick up 25 billion dollars as well.

But many Americans are skeptical about lending cash to these big companies, when million of families struggle every day.

This morning, Indiana Congressman Mark Souder joined Tricia Sloma on 16 Morning News.

Souder, who is a member of the Oversight and Government Reform Committee, discussed the impact of a potential bailout, including how it could pertain to our local RV industry.

To watch the full interview, click on the link above.

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Comments are posted from viewers like you and do not always reflect the views of this station.

Posted by: Jon Location: claypool on Dec 3, 2008 at 03:15 PM
the big three do not need a bail out, how about bankruptcy. the hole they are in, they dug. the tax payers were not responsable for the mess.

Posted by: bob Location: goshen on Dec 3, 2008 at 02:15 PM
my opinion only but the biggest problem is the fact that all of the money is in a few hands. and instead of letting the economy naturaly right itself we give the peaple that have the money more and we are poorer

Posted by: Todd Location: Niles on Dec 2, 2008 at 08:55 PM
You know I have seen a tv ad for a brand new caddy for $68,000 Tell me why would they build something that expensive and who in the right mind would buy 1 of those. Let the automakers fall on their face file for chapter 11 bankruptcy so they can re-organize get rid of that stupid union and pay lower wages instead of $30-$40 an hour also cut the retired peoples wages also and stop paying for their healthcare.

Posted by: hooliganx on Dec 2, 2008 at 05:12 PM
Well, if we bail them out, i expect a free domestic car of my choosing. They get our tax dollars, we get cars. thats how it should work.

Posted by: Junkyard Dog on Dec 2, 2008 at 04:53 PM
The government has now spent eight and one half trillion dollars on bailouts since this all started. When will it all stop? These figures were broken down on the CBS Evening News and it seems like it will never end. There are still other bailouts in the works and could add at least another one and a half trillion dollars to the total. What is really scarry is that the government feels it can still spend another TEN TRILLION DOLLARS and still get by.

Posted by: Cmon Congress Location: LP County on Dec 2, 2008 at 04:42 PM
I can't believe the scrutiny that Congress is putting on the Big Three, where was all the scrutiny when money was thrown at the banks? The demise of even ONE of the Big Three will impact far more people than the closing of a bank. Think about all the local employers-Federal Mogul, Anco, AMGen, metal fabricating shops, parts stores, dealers-who would be affected by that. It will be a much broader negative impact than one bank going under. I think that the Big Three DO need to show a plan, but I also think that Congress should be demanding the same from each bank who receives any of the bailout money.

Posted by: Maggie Location: Mishawaka on Dec 2, 2008 at 03:12 PM
why bail the auto industry out when so many people are out of work who can afford to buy a new car anyway, the banks are not even lending money to buy one. Get Real