Wednesday, December 10, 2008
Congress / Kotz / Media / Politics Wall Street Journal Gushes Over Bob Corker
Posted by Pete Kotz on Wed, Dec 10, 2008 at 12:15 PM
Though Tennessee Senator Bob Corker's demands on the auto industry seem a bit hypocritical to us, he's getting big play in the financial press. The Wall Street Journal practically gushed yesterday, praising Corker's confrontation with Big 3 execs and calling him an "expert" on the industry. Wrote the Journal:
The paper went on to deliver the freshman senator's auto resume to a national audience, citing Volkswagen's decision to build a plant in Chattanooga. A small omission: It failed to mention that it took a hellacious welfare package to lure said plant.
One senator, in particular, has become an near-overnight celebrity deal maker. That would be Sen. Bob Corker, a Republican from Tennessee, who last week did the work of several investment bankers by forcing Chrysler CEO Robert Nardelli and General Motors CEO Rick Wagoner to agree to consider the concept of a merger. He then promised Senate financing for such a deal by noting, "we print money here." (He added, wryly, "unfortunately.")
The paper went on to deliver the freshman senator's auto resume to a national audience, citing Volkswagen's decision to build a plant in Chattanooga. A small omission: It failed to mention that it took a hellacious welfare package to lure said plant.
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