I rarely wade into political or religious territory on this blog, but I think it's time to speak up some on a subject that is bugging me. Like most of you, I work pretty hard for my money so I would prefer that my tax dollars are used for things like road improvements, building schools, etc. You know, common infrastructure stuff.
When I first started hearing about the dire straights of the mortgage lending companies, credit companies, and other financial institutions I wondered what I did to contribute to this mess. I certainly sympathize with people who have lost their job and can't pay their mortgage, but I wondered what percentage of the loans that fell into default were legit.
Like you, I just bit my lip and tried to play along and hope things would get better. What's $700,000,000,000.00 among friends? But along comes the following AP wire story. I don't know about you, but it sure looks like there is no accountability for how that money is being spent, and that needs to stop. Here's an excerpt from the story:
NEW YORK - Crisscrossing the country in corporate jets may no longer fly in Detroit after car executives got a dressing down from Congress. But on Wall Street, the coveted executive perk has hardly been grounded.
Six financial firms that received billions in bailout dollars still own and operate fleets of jets to carry executives to company events and sometimes personal trips, according to an Associated Press review.
The jets serve as airborne offices, time-savers for executives for whom time is money — lots of money. And some firms are cutting back, either by selling the planes or leasing them...
Full story @ http://www.msnbc.msn.com/id/28338918/. Merry Christmas. Now what are we going to do about it?