I have been watching Congressional hearings on C-SPAN, notably Kucinich’s on hedge fund regulation and Dodd’s on ANOTHER bailout for Detroit.
Senator Bob Corker, Republican out of Tennessee is on the right track. Then he apologized for being harsh.
Senator Jon Tester, Democrat out of Montana, is further along the right track. Man oh man, he NAILED ‘em, and he DIDN’T apologize. Good on him.
But Senator Chris Dodd, Democrat out of Connecticut…who has some ‘splaining to do about his OWN perks from naughty naughty Countrwide…he was full of THANKS to the Three Caballeros, “You’ve been very very patient.” Something about four hours.
Big Shots Wagoner at GM, Nardelli at Chrysler and Mullaly at Ford have been very very patient with US?
Perhaps Senator Chris Dodd is extra gracious to the Begging Billionaires BECAUSE of the personal benefits that he enjoyed as a member of smarmy Anthony Mozilo’s V.I.P. club over at Countrywide…the predatory lender (except to Congressmen, then a BENEFICENT lender) that fell so early in this Market Mayhem as to have nearly been forgotten in all the excitement.
The brief 30 or so minutes that I just watched will provide fodder for the next dozen posts, at least.
Big Three Bullshit ABOUNDS. As to Gettelfinger, please.
Senator Corker: “How long do automakers pay autoworkers roughly 95% of their salary if a plant is idle?”
United Auto Workers President Ron Gettelfinger: “I don’t know.”
‘Nuf said.
It seems to me that it is only a matter of sorting out which politicians and executives are incompetent, and which are complicit.