After raking the Automaker CEOs over the coals, the US Congress is on its way to another holiday without actually doing the business of the country and keeping the country in business.
If the Congress wanted the Automakers to submit a detailed plan for how the funds would be spent and what restrictions Congress should consider, they might have mentioned that 2 weeks ago so that it could be considered prior to the testimony, and the time actually spent on meaningful discussion. To claim that they need more information is just another smokescreen to cover the lack of leadership that has gained the current Congress their huge unfavorable rating.
The bankers that rolled subprime loans into derivatives and CAUSED the current crisis? Bail them out. Then watch the banks do NOTHING with the loans other than put them in reserve and pay out dividends.
Then, when actual working Companies that need loans but can’t get them and can’t sell cars to people who can’t get loans to buy them, all because of the current credit crisis caused by the Banks? Criticize THEM for mismanagment, demean them, and DENY them any help. doh.
I hope the Congress all remember to jet pool on their way to vacation.