The NEW Illustrated Guide to Mendacity and Folly in the 21st Century.
Posted on | March 30, 2009 | No CommentsWe are still pretty much under-the-weather here, so we are still taking it easy on ourselves in the art department–so says the man with a staff of one, himself…can you even call that a staff? Dammit, I need a graduate assistant. I’m really wanting to do Madonna since I haven’t done a religious painting in a while–but I know it’s something I’m going to need a lot more intestinal fortitude to accomplish, and I’m tired of Tim Geithner, but let’s face it, the economy IS the story of the moment–and the last moment–and the foreseeable moments to come, when suddenly I get a lifeline and Barack-baby tells GM CEO, Rick Wagoner, he’ll only bailout General Motors if Rick quits, and guess what? Rick Does.
Now that’s an incredibly unselfish move on the part of a CEO, actually putting his money where his mouth is to save the company. Granted, Rick has been paid a great salary considering he’s been helming a company that’s been hemorrhaging cash for some time…but nowhere NEAR the amount our banker bandits have been paid. On the other hand, GM’s losses, while substantial, have not been in the trillion dollar range and threatening to nuke the world economy when they hit ground zero. But you have to ask, like Detroit-area Congressman Thaddeus McCotter, if there isn’t a double standard being applied here. I mean, have any bank CEOs or Board Chairmen been asked to take a long walk off a short pier? Surely, the masters of the universe over there have been responsible for WAY more problems than the automobile industry–which actually provides real employment to a significant portion of the American people instead of parasitically creating more and more phony wealth to divide further the haves and have-nots. And speaking about employment–why did the autoworkers have to re-negotiate THEIR contracts when the banking contracts were held so sacrosanct that we had to pay millions of dollars to a bunch of high-class grifters while being told that it was impossible to do anything about them because contracts are sacred. Weren’t the autoworkers contracts sacred?
According to Peter Morici, U of MD economist (as reported by CNBC), “…the administration has a “PR problem” regarding unpopular corporate bailouts. “They are bailing out just about anybody that shows up and says they need cash. The public has grown weary of it and instead of throwing a banker to the wolves they have decided to throw Wagoner to the wolves,” Morici said.
Maybe it’s the idea that ANYONE can run a car company, but only people with knowledge of the arcane swindles the banks practiced can extricate them from the rubble of their own making. I got news for you–if they got caught under the rubble, they didn’t understand them either. Let’s see what happens when you recruit some A-students instead of these high-rolling crapshooters. Hey, administration. How about throwing the wolves a banker–I’m sure they could use a little watercress salad.
P.S. Yes *sigh*–I know “das boot” means “the boat” in German. I was trying to make a joke–but i guess it was a pretty *lame* joke for someone getting “the boot”. Next time, I’ll *float* one that doesn’t “sink” so bad (or should that be stink?).
(Wash Post) GM Chief to Resign at White House’s Behest
(NY Times) U.S. Moves to Overhaul Ailing Carmakers
(Huff Post) Rick Wagoner, GM CEO, Will Step Down At Obama’s Behest
(CNBC) GM CEO Forced Out as US Readies Autos Aid