Nebraska Republican U.S. Sen. Mike Johanns tells us that he wants to require the government to obtain congressional approval for using federal bailout money to take an ownership stake in any company.
“Where is this all leading too? where is our country going if the Government can so easily nationalize a major part of our national industry, the automobile industry?”
Senator Johanns proposal comes on the heels of this week’s news the
government may take a temporary 60 percent controlling interest in
General Motors as part of the automaker’s bankruptcy reorganization.