Detroit Automakers take Private Jets to Beg for $25 Billion

$25 Billion is a mere fraction of the $700 Billion that the U.S. government quickly found available to give to the troubled banking and finance industries to ensure that the current economic crisis didn't worsen. But in this particular instance, the government does not want to give up the $25 Billion to support the U.S. Automobile industry and, in particular, GM, Ford and Chrysler. The Big Three U.S. Automakers are in serious trouble - and members of Congress are being asked to consider a bailout for the industry.

Of course, Congress is asking the same questions that most people around the country are asking. Questions like, "Why should we believe that $25 Billion is going to help anything in the long run?" and "Where do the bailouts stop?" and "Where does corporate accountability start?"

Fair questions, to be sure, but the writing seems to be on the wall for the U.S. automotive industry in its current form. With severe liquidity problems and slumping sales, it doesn't look like any finite bailout package would buy the companies any longer than a few months of solvency. The companies are trying to hold the government's feet to the fire, explaining that if they fail thousands - and possibly millions - of American workers will be added to the unemployment rolls. Cities and towns that depend on the auto industry's jobs and tax contributions will suffer. This is no doubt the case, but what difference will $25 Billion make?

The men charged with guiding the troubled automotive industry flew into Washington on private jets to meet with Congress. It's difficult to imagine begging for money after flying in on a private jet, but that's exactly what occurred. And it's difficult to really blame the auto executives for missing the problem with that or even accuse them of any indiscretion. These men are CEOs and top executives of major corporations. Their salaries from last year alone represent more than most Americans can dream of making in a lifetime. In short, if the auto industry goes under, all of the top executives are going to land on their feet, in a country club, with a drink in their hand.