Help Needed for the Big 3 Now!

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?

The Fed and the Treasury - Bad Parenting?

Well the best way I can relate the actions of the Fed and the Treasury last night is to relate it to a parent disciplining a child that has misbehaved.

First comes the harsh sentence.

Parent: Johnny, you're grounded for six months!
Fed/Treasury: AIG, we're not going to bail you out no matter what!

Parent: We'll don't do it again. I guess you can go to the movies with your friends this weekend. Do you need money?.
Fed/Treasury: Okay, how about $85 billion dollars to tie you over for awhile. Will that be enough?

Just like the inconsistent parent and the naughty child the inconsistent federal officials and the naughty businesses will continue with the undesirable behavior.

Bear, Fannie, Freddie, and now AIG. It's time to come clean. Lay it all out for all to see and figure out exactly how we're all going to take care of it.

One thing's for certain. The rock star CEOs, CFOs, senior management teams and their congressmen and senator puppets should be sent packing. I want to see some blood with some of these characters going to prison. That would be a good start!