Words of wisdom from the Freep
November 23rd, 2008 • by David Zatz
You have to read this Freep opinion… and pass it around… I think it really adds a lot of perspective to the bailout talks.
http://www.freep.com/article/20081123/COL01/811230371/1210/BUSINESS
(Thanks, Ed Stockelbach.)
That said — personally, I’m in favor of throttling back the executive perks and compensation as far as we can get away with it. If nothing else, it’ll make it easier on all those working guys who have seen their pay and benefits cut along with their job security.
The article makes excellent points, and fodder for talk. The problem is that there won’t be enough anger within the populace to rise up and make these sort of situations stop. The public continues with its apathetic acceptance of whatever government hands out.
And of hand outs, late Sunday night, Citigroup became the latest recipient of YOUR money, something to the tune of 20 billion to buy stocks, and a promise of another 300 billion so insure that such a big company, cannot be left to fail. That excuse, again. Which raises the question, IF Citigroup is so big that it cannot be allowed to fail, then why isn’t the domestic automobile manufacturing industry considered in the same manner. Aren’t they too big to be allowed to fail as well?
Perhaps a change is in the making. It does appear that the House Speaker has indicated that a new look at automobiles made in America might be getting the infusion they really need. Agree or disagree, something should be done, especially in light of the unfettered cash given to these banks that DO NOT have to submit any plans on their rehabilitation!