Kissing Frogs ... The Auto Bailout Monty

It plays out like something from the old "Wonderful World of Disney".

A friendly-looking, white-haired older gentlemen, speaking in a tone, that of a grizzled, wise-to-the-bone, Midwestern small town doctor, a bit self-effacing, before laying on the con ...

Here, watch it;

GM Repaid Government Loan Ahead of Schedule



Ah, not quite there Ed, but thanks for coming and playing our game.



It's all a hustle!

Gretchen Morgenson uncovers all three of the Monty Cards in her piece today;

Repaying Taxpayers With Their Own Cash

Truth seekers the nation over, therefore, are indebted to Senator Charles E. Grassley, Republican of Iowa, who in recent days uncovered what he called a government-enabled “TARP money shuffle.” It relates to General Motors, which on April 21 paid the balance of its $6.7 billion loan under the Troubled Asset Relief Program.

G.M. trumpeted its escape from the program as evidence that it had turned the corner in its operations. “G.M. is able to repay the taxpayers in full, with interest, ahead of schedule, because more customers are buying vehicles like the Chevrolet Malibu and Buick LaCrosse,” boasted Edward E. Whitacre Jr., its chief executive.

[snip]

Taxpayers are naturally eager for news about bailout repayments. But what neither G.M. nor the Treasury disclosed was that the company simply used other funds held by the Treasury to pay off its original loan.

[snip]

Mr. Grassley heard back from the Treasury last Tuesday. Herbert M. Allison Jr., assistant secretary for financial stability, confirmed that the money G.M. used to repay its bailout loan had come from a taxpayer-financed escrow account held for the automaker at the Treasury.

Even Snoozin' Larry Summers, woke up long enough to work the con;

What a difference a year makes. Just about a year ago, the American auto industry was on the brink of collapse. Today, General Motors announced that it has repaid its $6.7 billion loan to the U.S. government in full five years ahead of schedule, and Chrysler announced that, after taking one-time charges last year associated with its restructuring, it produced an operating profit in the first quarter of 2010 for the first time since the economic crisis began. The prospect of a faster than anticipated exit from government involvement and a return of most of the taxpayers’ investment in these companies has materially improved.

This turnaround wasn’t an accident of history. It was the result of considered and politically difficult decisions made by President Obama to provide GM and Chrysler – and indeed the auto industry – a lifeline, if they could demonstrate the will to reshape their businesses and chart a path toward long-term viability without ongoing government assistance.

Holy Long Con, Batman!

Even Bernie Madoff, sitting in his prison cell, had to give himself a few headslaps after reading this today.

He was in the wrong racket.

If he only hooked into the Government money pipeline ...



He had to be thinking about General Motors, taking over the Myra Langtry role in 'The Grifters' with the Government playing Roy Dillon;

Roy Dillon: Maybe I like it where I am.

Myra Langtry: Well, maybe I don't! I had ten good years with Cole, and I want them back! I gotta have a partner! I looked and I looked and believe me, brother, I kissed a lot of fucking frogs, and you're my prince!

But, Gretchen spanked'em all;

Of course, there is much joy in Mudville when a recipient of government aid repays its obligations. And it is also natural that the administration is keenly interested in reassuring taxpayers that losses on their bailout billions will be smaller than expected. Still, employing spin and selective disclosure is no way to raise taxpayers’ trust in our nation’s leadership.

Pucker up, everybody!


Bonus Riffs

Mike "Mish" Shedlock: Oh Please, The GM Bailout Was A Failure, And No The Taxpayer Hasn't Made Money

What's Good For Tesla Motors ...

Top Ten Cloves: Great Things About Obama Taking Over General Motors

Breaking News! GM Cancels UAW In Favor of Adopting Huffington Post Business Model ...Celebrities, Auto Enthusiasts and Bloggers To Build Cars For Free ...Huge Spike In Profits Forecast

Breaking ... Obama To Launch "Clunkers For Nukes"

In a bombshell announcement this morning, President Obama, following up on his successful Nuclear Security Summit, said that an agreement was reached last evening with the other participating 47 countries, and a new "Clunkers for Nukes" program will be launched.



"Legitimate governments, rogue players, terrorists, they're all eligible to turn in their nuclear weapons, or materials, and have their choice of a pre-owned automobile," stated White House spokesman Robert Gibbs, at an unscheduled briefing this morning.

"We have an overstock situation," said Transportation Secretary Ray LaHood.

"We're swimming in used cars ... We lost count, we have so many."

Last year, the Obama Administration instituted a "Cash for Clunkers" program, in an effort to stimulate the economy, and, according to administration officials, was quite successful.



Gibbs further explained, that the "Clunkers for Nukes" program will be scaled, in favor of the client.

"We're offering one car, for every ten-pounds of nuclear material, be it simple, unaltered plutonium, or enhanced, weapons-grade plutonium. It's projected, some potential clients could walk away with three, four, possibly even, five cars with their trade-in."

Gibbs would neither confirm, or deny, that President Obama, in a Rose Garden ceremony, would, symbolically trade in an two old American nuclear warheads, for cars that would be saved for his daughters, when they reach the appropriate age.

News of the "Clunkers for Nukes" program reached the Middle East, as Al Jeezera is reporting that Osama bin Laden is planning on releasing a new audio tape, indicating he is looking for a 1965 Cadillac, and may reach out to U.S. officials.


Bonus Riffs

Top Ten Cloves: Great Things About Obama Taking Over General Motors

What's Good For Tesla Motors ...

Retro Garlic: Is Chrysler Now Adopting The HuffPo Business Plan?

Retro Garlic: HuffPo Still Impacting Auto Industry

I was a bit surprised by this;

PaidContent.org reports that Huffington Post has hired Focus Media to go after the rebounding Detroit automakers for potential advertising deals.

In a statement, Huffington Post chief revenue officer Greg Coleman said: "Given the size and importance of the big three domestic carmakers, hiring a designated rep to work with them is a milestone for HuffPost in our continued national sales expansion," according to PaidContent.

Hmmm ....

If we wanted to stay with the universe of The Garlic, we could say, after revolutionizing the Auto Industry, HuffPo now wants to go collect the spoils.

The Retro Part;

Breaking News! GM Cancels UAW In Favor of Adopting Huffington Post Business Model ... Celebrities, Auto Enthusiasts and Bloggers To Build Cars For Free; Huge Spike In Profits Forecast

(Barry Crimmins also riffed on it - "Financial Modeling for Fun and Profiteers")

Hit'em Where It Hurts - Support The Chase Boycott!

I wish I had a Chase bank account, just so I could go in there today and close it, much in the same manner as Emptywheel, over on Firedoglake.

Save American Jobs: Close Your Chase Account

Here's how I explained to the Chase people why we were closing our accounts.

I’m closing my Chase accounts because JP Morgan Chase has placed its corporate interests above the jobs and health care of the people of my community, unlike other banks that continue to invest in rebuilding Michigan.

JP Morgan Chase insists on putting Chrysler into bankruptcy

On Saturday, the Wall Street Journal reported that JP Morgan is “resisting government pressure to swap” its Chrysler debt for equity in a restructured Chrysler. But if JP Morgan refuses this swap, then Chrysler will be forced into bankruptcy within a month.

According to the Wall Street Journal, JP Morgan prefers bankruptcy because, “billions of dollars of government debt and the UAW retiree health-care obligation [would] be wiped out before the secured lenders [JP Morgan and other big banks] lose anything.” In other words, JP Morgan wants to force Chrysler into bankruptcy so it would get repaid before all other creditors—including Chrysler retirees and US taxpayers.

JP Morgan Chase has already gotten billions from US taxpayers

Mr. and Mrs. Emptywheel, after withdrawing their stash from Chase, "put that money into a credit union that's supporting Michigan, not trying to bankrupt it."

Bob Fertik agrees:

Excellent idea. But could we take this idea one step further? What if we all took our money out of Big Banks and moved it into a "Blue Bank"?

Obviously we're a pretty large group: 70 million of us voted for Barack Obama. We may not be rich, but if we each deposited $1,000 that would be $70 billion.

If we wanted to start from scratch, we could start a new credit union (assuming we could qualify as an "Association") or a bank. But why jump through all the startup hoops? If we collected deposit pledges worth a decent amount ($10 million?), we could negotiate with existing smaller banks to find one "worthy" of our collective funds.

[Snip]

This idea has many precedents, both in the U.S. and abroad. Perhaps the most famous is Amalgamated Bank, founded in 1923 by the Amalgamated Clothing Workers of America, which is a commercial bank chartered in New York with nationwide service ...

Maybe, JP Morgan Chase, if they do this callous, cowardly, self-centered, "Me First" action, can hire Joe Pesci to do some new ads for them, to explain it all;

"Always the dollars ... Always the fuckin' dollars. ..."


Bonus Wall Street Meltdown Riffs

This Didn't Make The 11PM News ...

Top Ten Cloves: Things About Citigroup Keeping Stadium Sponsorship After Getting Government Bailout

Rich on Ruben: "The Citi may never sleep, but he snored ..."

In A Nutshell ...

We're All In The Dance

Breaking! ... Obama Takes Action, Siezes AIG's March Madness Office Pools and Brackets

Top Ten Cloves: Great Things About Obama Taking Over General Motors

News Item: Your Government, Running The Auto Industry

10. Presidential Limo now covered by the new, Government warranty

9. Extra discount if you say you plan to drive your GM car sleeveless

8. Next year, GM Execs get to watch Super Bowl, in the White House, with the President

7. GM employees' children get to play on that great swing set at the White House

6. GM cars, with doors open, about the same span as Presidents' ears

5. Bonus Bonus - When you buy a new GM car, before you drive off the lot, Rick Warren comes and gives it an Invocation

4. Safer Roads - To purchase a GM car, you have to go through a vigorous vetting process

3. GM Executives can now use Air Force One to fly to meetings

2. All GM models will come with Teleprompter installed, as standard equipment

1. Any problems with your GM car? ... Blame Bush!


Bonus Mister Goodwrench President Riffs

Sam Youngman and J. Taylor Rushing: President Obama’s auto plan throws lawmakers

Conor Clarke: Is Obama's Auto Plan "Unprecedented"?

The Anonymous Liberal: Does the Press Corps Understand What Bankruptcy Is?

DownWithTyranny: Is GM Headed For Bankruptcy Afterall?

Megan McArdle: Whither GM?

What's Good For Tesla Motors ...

What's Good For Tesla Motors ...

So, it seems, the Obama Administration is going into "Good Cop/Bad Cop" mode, under a dangling light bulb, whacking General Motors and Chrysler with telephone books, while lounging around with, giving coffee and smokes, to the Fat Cat Greed Heads on Wall Street.

They sent a Clemenza-like character to Detroit and the word back from the trip is "Oh, Rick Wagoner, you won't see him no more,"



And the Fat Cat Greed Heads of Wall Street are probably thumbing through their Blackberries, as they wait for Obama, and Secretary of the Treasury Timothy "What's that, Lassie? (Woof, woof!!) Timmy Geithner's in the well?!!" Geithner to deliver the cash, to find the number of the cleaning company, to start getting those summer homes opened up, scrubbed nice-and-spiffy, and ready to rock for the Memorial Day barbecue.

Deb Cupples, over on Buck Naked Politics, has a good rundown on why the now former GM Chief Rick Wagoner gets the boot, but just as the news was settling on the rather forceful action by Obama, more-and-more posts are popping up, questioning the double-standard of handling Detroit, versus Wall Street.



Here's a big hint - Larry Summers didn't worm his way up from the Motor City.

A big H/T To Joan Walsh for helping to point to the answers;

Krugman isn't the only smart person raising these concerns. If Evan Thomas' smug tone in the Newsweek piece turns you off, take the time to read Simon Johnson's terrifying Atlantic piece, "The Quiet Coup," which lays out the foundation of our current mess and then comes to similar conclusions as Krugman about the drastic steps needed to recover: The government must take over unhealthy banks, dramatically restructure them, save the ones that can be saved and later sell them back to private investors. (The piece was apparently written before Geithner's plan was released so it doesn't comment on it directly.)

[Snip]

Strangely, or not, on the same morning I read Johnson, a smart reader took the time to send me this 1999 New York Times piece about the way leading Democrats, including Clinton administration Treasury Secretary and Obama economic czar Larry Summers, hailed the repeal of Glass-Steagall, the Depression-era law that kept banks out of the insurance and broker businesses. It's as tough to read as Simon Johnson's piece, in its way.

Henry Blodget is scratching his head, as well, with his "Rick Wagoner Goes But Ken Lewis Stays?", while Frank James, on The Swamp, asks "Why no GM treatment for Wall Street?"

Robert Stein, on ConnectingTheDots, also, sees the double-standard;

The White House's willingness to take over GM is in sharp contrast to its hands-off approach to the banks in the plan to make toxic assets disappear. Does anybody in Washington know more about making cars than making loans?

The Detroit News editorialized today that "Dumping Wagoner lets Obama deflect attention away from Wall Street, where his Treasury Department is still moving through quicksand, and turn it on Detroit.

He can portray himself as being tough on the corporate executives who are ruining America, without having to draw blood from the bankers."

Elana Schor, over on TPMDC, in her "The Double-Standard Question Haunting Today's Detroit Announcement";

Here's how Rep. Thaddeus McCotter (MI), the third-ranked House Republican leader, put it to Reuters:

"Mr. Wagoner has been asked to resign as a political offering despite his having led GM's painful restructuring to date. Mr. Wagoner has honorably resigned for the sake of his company's working families.

When will the Wall Street CEOs receiving TARP funds summon the honor to resign? Will this White House ever bother to raise the issue? I doubt it."

And, Libby Spencer, on The Impolitic, has the gem-of-the-day, in her "General Motors Meltdown"

Dan at Pruning Shears voices my only objection in the quote of the day:

Responding to the looting of Wall Street by busting the UAW feels an awful lot like responding to 9/11 by invading Iraq

Are all roads leading to Tesla Motors?

But for all the sturm-and-drang being vented today, only Brad Friedman, on The Brad Blog, seems to be in possession of the Magic-8 Ball missing from the White House.

Tesla Unveils All-Electric Sedan, But Needs Federal Loan for Factory to Build It

So let's add one plus one here ...

[Snip]

So, if the federal government is currently bailing out the Detroit automakers, who have refused (and/or failed) to bring an all-electric car to market since GM abandoned the very popular EV1 in the late 90's, for reasons still-unexplained, and since Tesla is waiting for federal loan guarantees, why not put two and two together and give them the loans, but require that they use Detroit plants to build the cars, in hopes of avoiding the layoffs of thousands of Big Three autoworkers?

Here's the Press Release on that new Tesla Model S sedan (while Matt Nauman, of Mercury News, took the Tesla Roadster out for a thrilling spin).

Sounds like a plan to me.

Perhaps, will we come to the day of "What's Good For Tesla Motors, is good for the country?".


Bonus "Wall Street Good/Detroit Bad" Riffs

Steve M: OH, NOW IT'S "FASCISM"?

The Anonymous Liberal: Do Conservatives Understand How Bankruptcy Works?

Josh Marshall: Just a Thought

Yves Smith: Auto Company Plans Rejected by Task Force

Andrew Leonard: Why so hard on the Rust Belt, and so easy on Wall Street?

Garlic Poll Results ... "But I Thought We Were Getting A Company Car!"

Well, our revival of The Garlic's Weekly Poll was met with news that, well, let's just say it wasn't a rounding endorsement for taking a seat on Obama's new Presidential Task Force on the Auto Industry;

Auto team drives imports ...Fed task force has few new U.S. cars

The vehicles owned by the Obama administration's auto team could reflect one reason why Detroit's Big Three automakers are in trouble: The list includes few new American cars. 

Among the eight members named Friday to the Presidential Task Force on the Auto Industry and the 10 senior policy aides who will assist them in their work, two own American models. Add the Treasury Department's special adviser to the task force and the total jumps to three.

And the two big cheeses - Secretary of the Treasury Timothy F. Geithner and White House National Economic Council Director Lawrence Summers?

The co-chairs of the task force -- Treasury Secretary Timothy F. Geithner and White House National Economic Council Director Lawrence Summers -- both own foreign automobiles. 

Geithner owns a 2008 Acura TSX, registered in New York. He once owned a 1999 Honda Accord and a 2002 Acura MDX, according to public records. 

Geithner is the president's designee for purposes of enforcing loan agreements with GM and Chrysler and must approve or reject any proposed transactions by either company that would cost $100 million or more. 

His maternal grandfather, Charles Moore, was a vice president at Ford Motor Co. from 1952-63, according to Peter Geithner, the secretary's father. But Geithner wasn't very interested in cars growing up -- in part because he graduated from high school in Asia, his father said. 

Summers owns a 1995 Mazda Protege that's registered in Massachusetts. He previously owned a 1996 Ford Taurus GL.

Hmmmm ... Kind of like finding out that the chef for your restaurant, eats down the street.

Something tells me that a whole bunch of people in the Obama Administration will be visiting their local car dealerships - those selling American models - in the near future.

However, there is a bright side to this.

The persons that our Garlic readers voted to be added to the Obama Car Team, are probably the best possible salesman for just this type of problem.

And, they certainly will be able to part quality advice, as to repairs and upkeep.



The Results

For his "Presidential panel on the auto industry", Obama should include; 

Click and Clack,,, Tally 40% 

Danica Patrick ... Tally 30% 

Speed Racer... Tally 20% 

Like Dick Cheney's Energy Task Force, keep it Super Secret ... Tally 10% 


The New Garlic Weekly Poll;  

If the GOP Governors don't want the Stimulus Money, Obama should ...

Go over to the leftside column and place your vote!

A Good Fox Slapdown!

Oh, this one is just pure fun.

With the Republicans in meltdown, not knowing whether to piss, or wind their watches, it will be, for the next few years, such a joy to see the dwarfs, finks, phonies and frauds over there on Faux News, sitting there, their heads exploding from the build-up of methane gas.

We agree with Glen Greenwald, that this is "really worth watching";

Even more notable is the dripping condescension directed at him by the Fox personality at the end of the interview for having committed the sin of exhibiting genuine passion and anger over something as trivial as the disappearing middle class and the massive and growing rich-poor gap. That's the crime of Shrillness, one of the prime hallmarks of Unseriousness -- failing/refusing to suppress one's anger towards our political and financial establishment ...

And, we also have to hip you to John Cole's suggestion, over on Balloon Juice;

If you really want to get the full flavor of what a jerk this interviewer comes across as, watch this video without any sound. It almost looks like an SNL skit- the guy did everything but stick his tongue out and put his thumb to his nose while waving his fingers.

We give you Lansing, Michigan Mayor Virg Bernero.

MAYOR VIRG BERNERO OF LANSING MICHIGAN TEARS FOX ANCHOR A NEW ONE - HILARIOUS!!!



Mayor Bernerno kicked his ass, and then knocked his teeth out for mumbling about it!

This is right up there with Robert Gibbs tap dancing all over Sean Hannity's head last fall.

I guess the GOP didn't send over all of the talking points this day.

The Garlic Poll Is Back! ... And, Putting You In The Driver's Seat

Well, in case you skipped over the previous post this evening, you can see we have revived The Garlic Weekly Poll.

And, why not come in, with our sleeves rolled up, at the ready to pitch in and do our part.

It hasn't been especially easy for President Obama to fill his cabinet.

Additionally, there were the grand plans to have a "Car Czar", which, to the ear, sounds more like some late night infomercial, perhaps a rival to the blaring heir to "Head On", the "ShamWow".

So, he scrapped the plans this week and will run with a "Run by Committee" thing, or, as they put it, a "Presidential panel on the auto industry", otherwise to be known as "President's Task Force on Autos".

Considering the bleak news today of the Auto Industry, their going to need every Czar, committee, panel, task force and, perhaps, shammies, to pull this one off.

So, we thought we'd help them, let our readers have a voice in the process, and select who else should be joining this team.

In our Poll this week, we ask;

For his "Presidential panel on the auto industry", Obama should include;

Click and Clack

Danica Patrick

Speed Racer

Like Dick Cheney's Energy Task Force, keep it Super Secret

Go over to the leftside column and throw in your vote!

I'm Leavin' On A Jet Plane ...

Or: How To Blow A Congressional Bailout For Your Industry

So kiss me and smile for me
Tell me that you'll wait for me
Hold me like you'll never let me go
cause I'm leavin' on a jet plane
Don't know when Ill be back again
Oh babe, I hate to go

Well, to take a page from 'Cool Hand Luke', what we got here today (in Washington), is a failure to communicate.

The Big Cheeses of the Big Three came roaring into town, tin cup in hand, hoping, praying, that they could go roaring out of town, with around $25-Billion, or so, of taxpayer money ...

To continue to build pieces of shit that more-and-more people don't want to buy.

And this comes in the middle of a economic conflagration, with the pro "Give'em The Money" camps painting murals of gloom, breadlines and the complete meltdown of the USofA, while the con "Screw'em" camps are waving "Bon Voyage, as they point the way to Bankruptcy Court, and don't let the door hit you in the ass on the way out.

One such naysayer was none other than Make-Up Mitt Romney, in a NYT Op-Ed today, advocating "Let Detroit Go Bankrupt";

Furthermore, retiree benefits must be reduced so that the total burden per auto for domestic makers is not higher than that of foreign producers.

The American auto industry is vital to our national interest as an employer and as a hub for manufacturing. A managed bankruptcy may be the only path to the fundamental restructuring the industry needs. It would permit the companies to shed excess labor, pension and real estate costs. The federal government should provide guarantees for post-bankruptcy financing and assure car buyers that their warranties are not at risk.

Hmmm ... I'm not a labor consultant, nor an economist, but it seems to me that Make-Up Mitt is saying that, yeah, we need a car industry, but "Fuck the workers, pay them shit wages, and no goddamn benefits"

Far cry from where he was, when he was running from President;

To Romney, McCain's approach isn't futurism, it's pessimism. In Southfield, he had a one-word retort: "Baloney."

"I hear people say, 'It's gone, those jobs are gone, transportation's gone, it's not coming back,'" he said. "I'm going to fight for every single job. I'm going to rebuild the industry. I'm going to take burdens off the back of the auto industry."

Mitt, thanks for playing the game ... On your way home, double-check that you didn't leave the dog on the roof, again.

Ahhh, but those Big Cheeses, from General Motor, Ford and Chrysler.

These are the guys that the Congress, and by extension of our elected officials, we, John and Jane Q. Taxpayer, were to just take for granted, right off the top, not to have any questions about their competence, or how they have run their companies into the ground, and believe that they know what they are doing, do the Congressional Hearing photo-op and send them back to Detroit, bailout check, in-hand.

Apparently, for all Rick Wagoner of GM, Alan Mulally of Ford, and Robert Nardelli of Chrysler know about running a car company, they must have been absent the day marketing and public perception was discussed, or no one sent them the memo.

Big Three CEOs Flew Private Jets to Plead for Public Funds; Auto Industry Close to Bankruptcy But They Get Pricey Perk

The CEOs of the big three automakers flew to the nation's capital yesterday in private luxurious jets to make their case to Washington that the auto industry is running out of cash and needs $25 billion in taxpayer money to avoid bankruptcy.

The CEOs of GM, Ford and Chrysler may have told Congress that they will likely go out of business without a bailout yet that has not stopped them from traveling in style, not even First Class is good enough.

These nitwits could not have shot themselves in the foot any better, then if they went hunting with the Vice President.

New York Congressman Gary Ackerman (D-NY) called it "It’s almost like seeing a guy show up at the soup kitchen in high hat and tuxedo."

There’s a delicious irony of seeing private luxury jets flying into DC, and people coming off of them with tin cups in their hands, saying that they’re going to be trimming down and streamlining their businesses. It’s almost like seeing a guy show up at the soup kitchen in high hat and tuxedo. Kind makes you a little bit suspicious as to whether or not…we’ve seen the future. There’s a message there. Couldn’t you all have downgraded to first class or jet-pooled to get here? It would have at least sent the message that you do get it.

Unbelievable!

This is on par with The Commander Guy, looking down from his Air Force One jet window at the flooded city of New Orleans, after Katrina.

Something tells me, if nothing else, the fear of tossing millions out of work, the collapse of the industry, isn't going to get Congress to fork over funds with this level of arrogance, this level of dimwittedness and while, likely, add to the chorus, of which Jonathan Stein wrote, over on Mother Jones;

Throw the Bums Out (of Detroit)

So what do you do? You take separate private jets from Detroit to Washington. You take three flights at an estimated cost of $20,000 each, despite the fact that coach flights are available for under $300 and first class flights are available for under $1,000.

You spend $60,000 when you could have spent $900. And then you go to Congress with your hand out.

Jesus H. Christ. Bailout funds for the industry should be contingent on new leadership taking over and old leadership being put in stocks.

If the corporate boards that sit over these guys - Rick Wagoner of GM, Alan Mulally of Ford, and Robert Nardelli of Chrysler - don't kneecap them, and send them packing, then why should our elected leaders have any faith in them, or give them anything but the flat side of a wingtip shoe in their fat, lazy corporate asses.

Sorry, but we don't like to put bags of taxpayer money in the luggage holes of CEO Corporate jets.

If they didn't see this as a problem as they were winging their way to Washington, I doubt they are understanding it as they wing their way back to Detroit.

Yes, we need a real, big, loud Help Me Mr. Wizard!

Bonus Nitwit Big Three Riffs

Marc Ambinder: Annals Of Stupid Corporate PR Tricks

A.J. Liebling: Bailouts: The Game Show

Emptywheel: Shorter Mitt: Let the Auto Retirees Starve!!!

Steve Benen: PRIVATE JETS...


Bonus Bonus

This ones for you, you high-flying, Corporate Jet, Big Three CEO's!

Leaving On A Jet Plane