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.