Thaddeus McCotter

" Well we are very very fortunate we have represented that is part of the race in Michigan with -- us. On -- area. As well like. That's -- one want to touch. Two. The stories that these days. World -- Lost them. He was one. Every one I can hear you I can hear you now of the here it's just west. Good -- bad. Below its record clearing away the big Chrysler -- merger."

" Both from a different perspective we're glad to see the bankruptcy process including coming out burger -- prices. So as you know are from what we've talked about. The -- they were in bankruptcy the more damaging would it under the company's cancer survival."

" That he got back -- the our ability to guide the it's that don't will be there for the for the long haul of one point somewhere. Some time. Yesterday court documents turnarounds that you know what they were not going to be their past. Monday deadline all the sudden -- its scope but happening in the deal gets done."

" Well that's -- under target -- to guess what type of reasoning went into the court's decision. Justice Ginsburg issue the states yet to find other members of agreed with her here immediately with a chance that it would be overturned. Whether their immune cute such arguments are -- I don't know but I think that in the end in the judicial branch they had a constitutional responsibility they've taken very seriously. And appropriately and they made -- determination not to go through --"

" Here's the issue in case you know the viewers -- listeners don't understand what's going on there was a -- And -- treasurer state treasurer was was trying to get the Supreme Court to stay put -- hold on that hill today is. People the people he represents I believe is that this state of Indiana page -- that's all it's weird position in the company. Well there's good news but -- They were getting paid less for their debt that we probably shouldn't -- Namely the UAW so they tried to take them all Marlins fend -- that beautiful wild report looked at it -- Atlantic dot com. -- ever elected president that the attacks we talked about GM's situation. What about but it Edward whitacre junior like this this -- at the head --"

" Well we clearly knew that. The government was going to ask for changes in the board the board determined on Whitaker. I think he has an exceptional track record -- CEO. And we're hoping for the best but in the end I'm not on the GM -- I had very little input that some. Well okay eight GM workers at its that if it -- that -- the -- the company and -- point it. These are one of the the question that you really -- that is was out of the name come up -- get put forward. And the determination of the -- with a governmental involvement in these are issues in many ways related to what we see with the -- task force in the dealerships and others the drives people to the point of distraction which is what is the role of government is playing through the -- task -- present time. So I can't tell you listened to that I know how they arrived upon him I just know that right now is where it."

" That's interesting because for some -- it so it was hey recommendation from the auto task force. Edward whitacre junior. Probably there -- The board you probably get a few options and and they chose us --"

" I should understand dark what I'm saying is we don't know. We don't know with any certainty because of the way that the auto task forces operated -- many things that we found out about the process leading up -- bankruptcy."

" You and I regret coming out now you and I -- friends I love you guys spent a lot of time on the -- you. Up a little alarming that we're getting GM I don't know 53 billion dollars and we don't know -- the news Il was appointed weary from. Maple back at someone available we'll -- word there."

" We know Horry came from -- came from a long career with the TNT he was very capable. Chief Executive Officer and known -- questions his qualifications in that capacity. What I'm saying is. That we -- to know the full extent as to how this happened but I think with the -- was it looked around the on the best personally and they made the decision there. But again and you know we're -- very murky relationship between the private sector the government right now both of the auto companies and elsewhere. And only I don't want to tell you that they are arriving at this point and -- resulting in the Detroit news two weeks from now it became a different way."

" Hey engaged in this guy's going to be charged. Picture up there he's going to picture instead -- me if this here's the guy's going to be -- telling. I guess it is the Wall Street that the TARP recipients only right now much. Top level executives to make that right. That's Cesar. Sounds. Sounds like somebody came from -- to conquer you -- Promise is that yet he's only going to. Be involved in the the it's -- it's the bonus structure. Surrounding the top executives of TARP recipients that right."

" Well it seems that the reports that have come out about the -- have been that the congress is going to be. -- moral role in dealing with that the administration is backing off that we're hearing that is the bank to -- the TARP funds which are now being allowed to do that treasury. If the restrictions and rules and requirements will be lifted when that money for pay as for the -- our. Look there's more its arms around here than there were in the entire Romanov dynasty. So it just becomes a question about what are you going to do re going to oversee and furthermore why would you need to set up with a specific pays off in that -- that not only that title -- capacity. So it's it's it's new I think our leader John Boehner put it past -- that you describe it is lunacy."

" Elizabeth Warren show last night interviewed her for what turned out to be about ten minute interview and her point was it. Think she was talking -- you've followed this the bank stress test the did you you know -- over the nineteen top banks that received TARP money. Where we're stressed this find out how -- they were -- what they would. Whether it recession or deeper recession. What her point was last night that those that stress that's weren't strong enough that -- enough and I said Doris and well you know. No offense is one thank you for coming on TV being honest about what -- yet. Three months. Ago when we're talking about -- testing these banks -- body and New York. It's a congressional oversight panel. -- what's going on. Well it's an oversight can."

" I -- members of congress on it. It's also obvious in this one is not a member congressman was set up and in the original -- to help oversee it. But I think that the the point is right a lot of us even at the time contemporaneously were worried that the stress tests would not be -- Who give us an understanding of what banks were in trouble what banks and most importantly were insolvent. Let alone provide -- guide to what we should do after that so I don't think that she's being consistently keeping entirely consistent. And I would ask what even if at the time many of us -- again there stress test might not be as strenuous as they should of that. What was the administration to accommodate those views to work than men to make sure we stress that he would do would --"

" Was. That it's all well and mind what we talked about and we didn't today you know it back. Before that was and I guess it all Latinos in the -- the profits after they passed stresses there are people who put. Pension money for one K money these kids are tied kids college funds in there. Based on the fact that these companies these banks are probably -- and maybe now we find they're not."

" Well I'm not certainly not defending the stress that even -- the -- My large concern was that when you're setting up a stress test do you have a predetermined outcome that everyone's going to be healthy. And when you look at the problems that we've had and you look at some of the subsequent reports about the FDIC -- looking at Citigroup is being. In problems which are starting to see is that stress test begins to increasingly look like. That there was no one ever going to fail. And so this isn't a case where I'm defending -- only ms. -- defending it but again. This -- her setting up distressed us citizen he's setting up stressed that this was the administration. Through the Treasury Department setting up a stress test and I think that your point is absolutely valid there are the people who see the stress test and believe they may have been more strenuous than they were. That's very unfair."

" Like to me and I had thought maybe off base. You guys congressional oversight board -- said bill. Say hey look we have your money here's what I doubt about Elizabeth warns -- That the oversight board that number one. That there was massive waste. Colts -- dollars weighs more. First it billion -- a big chunk of the initial money that was long -- for -- Ending now the stress that's one that's that's what. It."

" Well Erica -- in I have to be completely open about this is you know I voted against the bill. That created -- I voted against the bill that the 700 billion the walls. Voted against -- three times now. So the reality is you'll have to -- those who set it up I remember when we had. People come in from the Treasury Department to catch car -- others -- told us that they had even had a conflict of interest requirements set out. This thing was rushed. It was -- at the time in a crisis atmosphere I remember being excoriated. For my opposition to it by some of your fine colleagues as a matter of fact. And the reality is as we continue to find out. It was a poorly put together bill when congress after the crisis -- very rarely get a bill that is beneficial in the long run. And we're seeing the ramifications of this at present. And it."

" Yeah the -- I think you're favorite as a right. Yeah and it's just give us an idea what that program."

" We have a car that's later than -- 1984. His poor gas mileage and is ready to come in. You'll get a rebate from the federal government to the dealer so that you can trade that in -- get a more fuel efficient vehicle that freedom by passenger cars light trucks heavy trucks and others. And -- designed to help move cars off the lot and provide fuel efficiency. And for environmental upgrade in terms of the vehicles that -- streets. And it doesn't -- the Chrysler -- applies across the board vote transplants and about. You know what yeah -- I think they did with the goal -- to try to get. The more fuel efficient vehicles off the lots it was a compromise bill coming from Detroit in the evening I can do to help moves are an awful lot discussing an incentive. To get people to bringing cars that are not fuel efficient that are actually not being helpful to the environment or to the economy by being continually worked upon. I was going to sport it is."

" Honestly we going to lose the satellite with the represented that is the great state Michigan Republicans are we love you -- Joining us we're going to throw it around a little bit and I have an idea what -- Congressional czar and I -- you sir."

" Now I know what happens bizarre -- the Romanov. -- Well it's their right it got to figure out Washington they probably stay -- if throughout lots going on. I heard heard that three. States. That Michigan."