SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Politics : President Barack Obama
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: ChinuSFO who wrote (45233)11/20/2008 1:40:24 AM
From: stockman_scott  Read Replies (1) of 149317
 
<<...These clowns in Congress are pathetic...>>

No doubt about it...Did they grill the CEOs of every troubled financial institution about how they flew from their headquarters to Washington DC...?? Do they think the CEOs of AIG, American Express, CitiBank, Goldman Sachs, Morgan Stanley and others fly coach...?? Think again, all of those execs collected billions in tax payer support for their firms but they ALL travel on company owned private jets (in fact I read that AIG still has 8 corporate jets).

Now lets think about why we might want to try to save the Big 3 automakers...There are 2 - 4 million jobs at stake...Our economy is in the worst recession since World War II and it's not a good time for a major anti-stimulus event (a bankruptcy)...trying to prevent skyrocketing unemployment is the reason to keep the Domestic three solvent. Many of the big banks got a loan or big cash injections without any hitches or regulation. The banks are not providing liquidity to people that could buy a car or working capital to companies. Every CEO of any major bank travels in a private jet, vacations in the best places, so Congress needs to lighten up. Nobody is buying because consumers have lost confidence and the banks are not providing loans. What about that 700 Billion Dollars in the TARP that was not a loan but a give away. What about companies that are going under because the banks are not helping..?? Obama needs to get a car guy or turnaround expert to be the auto industry czar not a politician. I agree however that both the banks and the auto industry need to provide more value to the consumer. Congress has not helped the situation - by giving the oil companies free rein on making profits, etc. Lets do the right thing and find a compromise to keep the Domestic 3 automakers solvent.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News