Tuesday, November 18, 2008

Annoyed

Just watched the Senate Banking Committee interrogate the Big 3Eo's...

As I stated before I agree that the big 3 should be given some help. Not only is it a strong economic force in my state and city (Louisville, KY) but it also stands to reason that helping the big 3 will keep millions of people employed both directly and indirectly.

However, what annoys me is watching these guys ask for money without a strong showing. If I'm requesting someone money, I'm going all out and am fully prepared. To me the only want that seemed prepared to a high level was Nardelli...

How is it that anyone can ask for 25bln and not have full info on profitability and expected expenditures?

If I'm going to agree any further to this bailout, I need to be sure that these companies are capable of pulling it off. I believe its possible, and I've seen quite a bit of restructuring across all 3. I just need to be sure that they plan on putting the 25bln to good use, and not use it to "get them through" the next couple of months

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