Congress should be dragged in by their ears and locked into the room until they get this bridge loan approved!
It is unconscionable that a blank check was given to the financial institutions in a scheme devised by Treasury Secretary, Hank Paulson. It received congressional approval only under duress as Wall Street held an economic gun to Washington's head as the stock market melted down in full color on the nightly news and red ink poured out of countless peoples' 3rd quarter 401k statements.
Sadly we have only begun to see the abuses of these funds as the first $700 billion was scooped up faster than cheap televisions at Walmart on Black Friday. AIG's CEO is a master of splitting words by agreeing not to use the funds for executive "bonuses" but finding no problem using them for executive "retention payments." $140 billion squandered with little oversight but no money to save up to 3 million jobs in the automotive industry, one of the biggest drivers of the last century? Where's the outrage?
I'm sickened by the thought that my tax money can be used to help an AIG executive buy an new yacht with their "retention payment" but it cannot be used to keep 3 million of my neighbors working. Does anyone honestly believe that eliminating a large number of jobs is going to bode well for the rest of the working people?
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