Well, now I guess we can feel good about "loaning" tens of billions of dollars of OUR money to three poorly run automakers with no profits and a market cap of under $7 billion. See, their executives drove there own bad selves from Detroit to Washington DC.
In hybrids. Oh joy!!!
While showing up for a bailout hearing in private jets was bad PR, the stink raised over it has been disgusting. Americans are outraged over the mode of transport and the salaries of corporate executives, but don't blink an eye about having their government seize their money to buy itself into private-sector businesses. That's called socialism, look it up.
While the auto makers have racked up a huge debt and made unrealistic promises to their employees, the US Congress is hardly in a position to lecture them.
As of September 30th of this year, the United States national debt stood at $10,024,724,896,912.49. That's ten trillion twenty-four billion seven hundred twenty-four million eight hundred ninety-six thousand nine hundred twelve dollars and forty-nine cents. The debt wracked up by GM, Chrysler and Ford is chump change compared to that.
The Social Security system will begin breaking down in the 2020's and be totally bankrupt soon after.
The people responsible for our national debt and fraudulent retirement plan are demanding oversight of the Big Three auto makers as they use our tax dollars to recover from their troubles. How comforting.
And the American citizen is fixated on an airplane.
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