Thursday, November 20, 2008

Can I have a bailout too?

CEOs take private jet to plead for bailout

That article infuriates me.  Spend over 20k to fly to DC and then ask for money?  Congress, I'll do one better, I'll take the metro down and plead for a bailout and I won't ask for nearly as much. 

The problem with the initial "bailouts" is that now every company wants one.  Oh the financial sector will crumble.. oh oh the auto industry will collapse.. oh oh oh the fish food market is unstable we need a bailout STAT

Here is how the free market is supposed to work. You are in business. Times get tough, you cut back on expenses (perks should be the first to go.. like company breakfasts...on the private jet that you are flying every weekend).  Not working out? Sell.  If you can't make it, you file bankruptcy.  Someone else buys up your assets at a discounted rate and then can trim the fat that you wouldn't / couldn't. The cars, banks, and fish food won't go away.. they would just be bought up by someone else.

3 comments:

  1. Carl,

    I'll go you one better. Let's you, me, and a couple of other fellas roll down there in my truck. That ought to get some sympathy.

    ReplyDelete
  2. Count me in for that trip...then when I get the bailout I'll use it buy a house but not make the payments...then I can come back in 3 months and get another bailout

    ReplyDelete
  3. You go Carl - where was your name in Nov.?

    ReplyDelete