Quote:
Originally Posted by Evotion
Congress needs a long term plan outlined by the automakers, they are incredibly irritated with the CEO's at this point. The fact that each CEO took a different corporate jet to the hearings, and that only one of the three would be in favor of accepting the Lee Iacocca $1, did not help at all.
As much as it pains me to say this... I agree with Congress completely. There needs to be a plan, and this needs to be taken more seriously by the heads of these companies.
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I agree that there needs to be plans and conditions associated with any loan that's given. And I think Congress needs to really put their efforts in fixing some major problems that are crippling the entire manufacturing sector, not just Detroit (such as healthcare costs, insurance companies, drug companies, trade imbalances, etc). But I do find it hilarious that they shoveled $700 billion to Henry Paulson without hardly thinking about it or being concerned with conditions (and those institutions getting the money are still going on lavish junkets, paying out big CEO bonuses for ruining their companies and the economy, etc...), and there's been hundreds of billions shoveled out for Iraq....but $25 billion, a drop in the bucket compared to everything else money has been thrown at, and something that's so vital to a huge chunk of this country's blue collar workforce, they're being oh so careful with it.