Last month, in Inside Government’s post Who Gets A Bailout we discussed the financial bailout of AIG and the like. It was reported then, and is still true today, that no congressional panel has been established to determine what criteria must be met for companies to qualify for bailout consideration.

It is very interesting, and somewhat distressing, to realize that Congress can interrogate and then deliberate about the pending future of the Big Three auto companies for over a week at an initial price tag of 15 billion dollars when it took no time at all (and very little discussion or deliberation) to shell out over 700 billion dollars for the survival of Wall Street companies that have made many tactical management mistakes and in that regard are no different than the Big 3 auto makers. 

Click to continue reading “Congress Must Create A Bail Out Process”

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After spending the weekend in suburban Detroit hearing about the proposed request by the Detroit City Council to have their double-digit deficit spending problem be resolved by applying for a Federal Government “Bail Out;” the questions that ultimately need to be pondered is: Who is qualified to apply for AIG-like congressional bail outs, what are the congressional criteria for approving a bailout, and what is the process for the distribution of funds? The line of applicants for bailouts of all kinds is growing, and these applicants are desperate to find out the answer to these questions, if there truly is an answer.

Click to continue reading “Who gets a Bail Out?”

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