Hypocrisy Watch: Bank CEO's Treated to Lunch While CEO of GM Asked to Resign

[MrBrownstone888]

The U.S is one big money pit, Just burn that mother down!

[xhagast]

This is nonsense. Wagoner belongs to the caste of suicidaly incompetent oligarchs that are ruining this country and had to go. As for being soft on the finantial institutions...Well, he has "only" nationalized them.

Wagoner and Chrysler are being torn to pieces because they should NOT be a mess. Both companies should have been producing cars that go 50 miles per gallon for YEARS. If they had then the automovile industry would be strong and not one more problem.

Off with their heads!

[d3v07]

If anything would've been handled eloquently in the last 8 years, we wouldn't have any of the fuckups you see today.

[MrBrownstone888]

how about no.... you like that/ huh?

[kargenlewis]

eat the rich!

[burntonion05]

You can't just go and fire everyone all at once. Fire one a week or one a month is the proper way to go. Good job Obama making all the right moves.

[darktoadthesticky]

I don't see how getting rid of the deadwood would make the companies worse.

[ubuibiok]

*****Wall Street Obama.....No change...just more of the same !

[zndprophet]

That is hypocrisy.

Obama does some things I don't agree with, or that I question, but I'm not just gonna write him off like a lot of people have already. I didn't expect a night & day change, just a change back to normal from what was nuts (the bush administration) but, there are still some lingering effects, and I wish Obama wouldn't indulge so much in them.

[darktoadthesticky]

Maybe, I am wrong, but did Obama not get elected by calling for change? And has he as of yet, just followed Bushes policies?

[zndprophet]

He's cleaning up Bush's mistakes, he's not following his policies.

The bailouts trouble everyone, but they are done because its what economists recommended to both Bush and Obama. It's disappointing to everyone that we have to do this, but the wonderful "free market" ideals led us here. AIG was ALLOWED to become too big to fail, and now, the reality is it that its failure would be a huge obstacle to our general recovery. We should have dealt with this earlier, like maybe the PAST EIGHT YEARS!

[darktoadthesticky]

To me, it seems as if we are bailing out the wrong people. The banks didn't just happen to get this way, the Executives stole all the money out of them. And these Executives are now untouchable???

[dluviam]

Truth is the execs of the banks that ran them into the ground have long been replaced. That's not being reported. It cuts against the double standard meme the MSM is trying to push.

Also, the difference is simple.

Banks' business model is sound, and they hold assets that actually MAKE MONEY, even if those assets are currently devalued.

Automakers LOSE MONEY due to structural business flaws that nobody is able to fix unless and until a bankruptcy judge gives them a clean slate to work from.

[dluviam]

-Chuck Prince - CEO of Citigroup, resigned on 11/04/07 after CDO and MBS losses sent Citi into its current tailspin

-John Thain - CEO of Merrill Lynch resigned from a position as new owners Bank of America took over on 1/22/09

-Martin J. Sullivan & Robert B. Willumstad - the two preceding CEO's of AIG, the former of which resigned in 06/15/08 and the latter three months later

-Dick Fuld - CEO of Lehman Brothers

-Jimmy Cayne - CEO of Bear Stearns. 3-27-08.

Hank Paulson - Goldman Sach's?

[zndprophet]

Wow, yeah, that's something we don't really hear. I don't think people want to hear that either, it complicates their outrage.

Funny, the Bush, and all these old CEO's are kicking back right now watching all this madness, and we're putting all the blame on the new guys.

That's America for you. We have no short-term memory whatsoever.