Bailout?! Baloney!

Posted on Thursday 20 November 2008

U.S. Rep. Spencer Bachus of Alabama described American taxpayers as having “bailout fatigue” regarding the Big 3 automaker CEO’s testimony to Congress. But I think a lot of us prefer to refer to it as “bailout baloney”.

Tell me again how much those three men make in one year? While two of them spoke of taking the Lee Iacoca plunge and getting $1 a year, the other one remained silent. How about $0 for 1 year? I think they should have enough in reserve to tide them over for a while unless they run their personal finances like they do their companies. Why else would they be going before Congress begging for money?

Chrysler CEO Bob Nardelli says Chapter 11 bankruptcy is not an option. If a person who is making payments on their Chrysler automobile to Chrysler Credit files for bankrukptcy does he still get to keep his car? I doubt it. So why should the Big 3 get to keep their jets?

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