>>>>>>http://news.yahoo.com/s/nm/20081212/bs_nm/us_madoff_arrest
>>>>>
>>>>>Perhaps the Ponzi scheme should be given a new name?
>>>>
>>>>Or switch to more consumer friendly names - stock market or real-estate market - same things.
>>>
>>>Did I miss huge thread here when they passed second bailout ? (800B) Or it is no longer even newsworthy...
>>>This 50b in 'ponzies' is peanuts comparing to 'stuff' that is being floated.
>>
>>The auto companies (big 3) bailout failed late last night...One of the main issues was the UAW refused to lower workers salaries in line with Honda and Toyota which the Senate wanted as a part of the deal.
>
>Did not really have time to folow up but I have heard (could be rumour) that top execs all came in private jets
>to seek bailout. (Each jet cost...)
>
>* * *
>I don't understand why they hit on workers. All they needed to do is make law, which would limit top salary to let say 500k
>and any extras on top of that to be payable only as dividend. Not talking about Auto Industry only but banks and corporations in general.
>
>Let them have equities, stock options etc but without right to cash them. All they can take to be dividend based on those shares, and for as long as they work for company.
>
>I bet you their balance sheets would make much more sense, then they do at present.

There was so much bad publicity over their arriving at the first meeting in private jets that each one took another means of transportation to the next meeting. Most drove in hybrid vehicles to the next meeting (in some cases from Michigan to D.C.). The execs also offered to work for $1 the next year.