Tuesday, January 27, 2009

Good Grief, Not Again!

Ok, so, the feds have poured my money into companies who have made bad decisions. And some have done stupid things before, during and after getting my money. Remember the auto execs flying on corporate jets to Washington? Many of us are still wondering why there seems to be no end to bone head moves. And just why won't the banks fess up to what they have done with the money?

Remember a few years ago a top dog guy got in trouble for buying a very expensive shower curtain? A couple of thousand dollars it cost, I think. Guess some people have short memories. Yeah, let's re-decorate the office and keep the cost to about $1 million. Cough, say what? Yeah, some body better back pedal fast on that one.

At least one company got caught and had to change it's plans. Citigroup apparently could not hide the new jet order from the press. They insist that the new jet would be bought after selling it's other two jets. The money did not come from taxpayers. More like "oops, caught again..." I understand the White House pressured the head boys at Citigroup to re-think the purchase of the new, sleek french jet. Aha.

Does anyone in Washington care that there are people losing their jobs all over this country? Just how do the banks that took the TARP money get away without transparency it how the money is used? Banks are buying banks, but not loaning money to the public. Ceos and other executives are still getting big bonuses. Way to go guys. Why don't you give a cup of coffee to the guy in the unemployment line? How about a spa vacation? Good grief!

5 comments:

Margaret said...

It's nuts and bailing them out seems even nuttier. I know that if they don't bail them out our economy will fall much quicker. So will the entire world's.

There is never a perfect time, but I kind of wish we'd just go ahead, buckle up and go for it. Money should change hands from those who are being so irresponsible. New honest and thrifty bankers will arise from our midst. We're in a land of opportunity where the hard worker used to be rewarded. Let's give him/her a chance again.

But... we gotta deal with the bandaid on a broken ankle solution for now.

Dr.John said...

I assume the Obama bailout will require accountability.

bettygram said...

I have a question about the jet. It was order a while ago and is now being delivered. Don't they have a contract that has to be honored. What about the company that made the plane paying for the cost of materials and paying workers. Don't they need the money for their work?

Jill said...

I've wondered about the jet contract too...

Bazza said...

The rich will always look after the rich, and that includes giving them money if they become poor. However the rich will never help the poor if they have always been poor.