Friday, March 27, 2009

Bailout, perks and travel

Since about everyone in the country is watching the economy with a magnifying glass, and news coverage as in depth, actions of CEOs and companies often make the headlines. The banking industry has received billions, yes they do not want to reveal where it went. AIG is in dire need of additional funds, yet passed out over $200 million in bonuses. Two US automakers want billions n loans.
Meanwhile, Congress seems to give the impression they are working on helping the country pull through this. But are they really? Yes, they might have prevented major banks from collapse by infusing capital, but these are the same people that passed legislation that allowed it to happen. It is kind of like taking responsibility for extinguishing a fire, even though you set it. Of course the President at the time gets the blame, but who voted for it? Guess that fact is something that should be kept under the rug.
With regards for the deficit, why doesn't Congress re-write their pensions? After serving just one term in office, a Congressman will receive his salary until he dies. I do not know of any employer that offers such wonderful terms. Is this benefit offered to all federal employees? If not isn't it preferential treatment of the executives? Years ago, my father's insurance plan changed since the executives had a better plan than hourly. Legislation made that illegal so all options were made available to all people. Why does Congress operate differently?
Congress has opened a new probe into the AIG bailout. So there goes more of our tax money going for meetings. I think it should be easy and done in one meeting, just ask, Who got the money and why? I was always under the impression that bonuses were for performance. At AIG, the money went to the Derivatives Department, the same people that destroyed the company in the first place. Where I work a person gets fired for actions like that, not rewarded.
There have been a few more glimmers of hope on the scene. Personal spending rose again in February following a rise in January. Maybe the population is gaining confidence in the economy. House sales are also showing some sign of life too. Perhaps a small vacation is in order? Or maybe a once in a lifetime trip that has been postponed? With tourism down around the world, now is a good time to travel. Europe hotels have major discounts and so to the airlines since planes are not near capacity. So contact Damron Vacations to set the wheels in motion. Rome, Paris, London, perhaps the county of your ancestors? The experienced agents at Damron Vacations can help with all aspects of your trip, including dinner shows or maybe play in London. Why wait any longer?

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