A Tale of Two Bailouts…

So, let me get this straight.

The government has no problem appropriating $700 Billion (not million, BILLION as Dr. Evil would say) for financial services firms with absolutely ridiculous executive compensation schemes.

But regarding a $14 Billion loan to automakers (that is FOURTEEN), the whole thing dies because lawmakers wanted blue-collar workers to take a wage cut?

Now, I do not support the idea of losing taxpayer money on either industry unless it genuinely make some serious changes to the way they do business. But it is interesting that during the financial services bailout, no lawmaker thought twice about compensation issues.

But on an auto industry loan that is only 2% (that is, TWO percent) of the financial services bailout, several lawmakers have suddenly decided to make a moral stand?

Our government, folks.


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