Corker Urges Treasury to Draw Line in the Sand

Senator Bob Corker’s plan for an automaker bailout fell apart in negotiations with United Auto Workers last night. Now, GM and Chrysler are looking to the Treasury’s 700-billion dollar Wall Street bailout fund instead. The Tennessee Republican is asking Secretary Henry Paulson to consider using the Corker plan.

“Obviously he’s got the authority to do anything he wants to do, and I think we know that. But I have a call in to him to say, if you’re going to do this, please embrace these concepts that draw a line in the sand.”

The line UAW negotiators wouldn’t cross forced them to cut wages next year to be competitive with foreign automakers. Coty String works at the GM plant in Spring Hill and says he understands why the UAW wouldn’t bend on that point.

“Everything looks good on paper. But when you really do it, if you step in their shoes, you understand better.”

String says he’s worked hard in a demanding job for 23 years so he could make a decent wage with job security. He says if GM goes down, he’s blaming the government for not stepping in.

See Corker’s plan.