Wednesday, November 19, 2008

Congress vs. The Big 3


The big 3 US automobile manufacturers have gone in front of a congressional panel to ask for a 25 billion dollar bailout. Rather than ask the "Big 3" what their current situations are fiscally, or what they would do with the money if they were given it, Congress spent most of the time ripping into the CEOs for flying in on private jets. Don't get me wrong, I agree many of these guys are overpaid, but Congress should not spend the focus of their questioning time on the travel standards of CEOs. Asking them; if they now plan to sell their aircrafts, if they plan to fly commercial. Shouldn't they be discussing the potential bailout? Remember we need to keep some perspective this is a 25 billion dollar bailout, and Congress is spending most of their time asking about if they plan to sell their corporate jets, jets that costs less than 1% of of what these corporations need to stay a float. This is ridiculous, the economy is facing a depression, the auto industry is about to collapse putting thousands of people out of work, almost a trillion dollars of public money has been given away (which we may never see again quite possible), and Congress is asking about G5s. Really? Then people wonder how we got into this mess.

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