The Big Three Are Looking for $25 Billion Plus to Help Weather a Longer Than Expected Recession

I talked yesterday about my feelings surrounding the auto-bailout for Chrysler, Ford and General Motors, and the more I read about what Congress is doing and the debates that are flying around the more frustrated I get.  Now CNN is reporting that Congress wants the automakers to show how they plan on spending their bailout dollars before they’re willing to offer any.  Generally speaking this isn’t a bad idea, but what I find most frustrating is that they haven’t publicly asked the same from companies like AIG or banks taking money from the already approved $700 billion bailout.  Doesn’t it seem logical that any company coming to Uncle Sam for a loan/bailout would be held to the same standards?

At the same time they’re asking for $25 billion in taxpayer money – these auto company CEOs are idiots.  They all came from the same state in their own private luxury jets.  The average American will never see first class, let alone the inside of a private luxury jet, and while continuing to pay their taxes will probably end up eating Mac-and-Cheese to get through this depression recession and these beggars can’t even share a ride or fly commercial.  That’s saying two things – they are neither green nor frugal, and that should be disconcerting to everyone.  These companies need to get both quickly and those changes need to start at the top.