So what?

First of all, Bush has become a caricature at this point. One of the ironies of the Bush Presidency (there are many) is that he’s been so stupidly unpopular amongst the brain dead community of John Stewart/Bill Maher faithful for his foreign approach that his ridiculous domestic policies have gone virtually unnoticed. History will look back on Bush and view with favor his job as Commander in Chief – especially in Iraq.  Meanwhile, his atrocious expansion of the executive bureaucracy and government at home was not enough for this country.  They want us to spend even more money.   

All of these bailouts and stiumulus packages are disgusting.  Not one of these overpaid fat cats who show up on Capitol Hill should have gotten a red cent of taxpayer money – especially the corpse of an industry that still professes to make cars in this country.   And what is the AP doing?  Throwing pebbles at squirrels in the yard while the house is burning down.

I have news for the pious middle class, the media, Barney Frank and the rest of the Jacksonian snobs out there in the moral majority who think this is news: it’s none of your business. Government has no business dictating terms and conditions to private companies on how they should conduct their executive travel.   If Morgan Stanley wants to fly their CEO across country in the frigging Space Shuttle, it’s their business. If it weren’t cost effective, they’d be going out of business.

Wait…

“The personal use of these planes is virtually indefensible at this point,” said Patrick McGurn, special counsel at shareholder advisory firm RiskMetrics Group. “Once you’re on the federal dole, the pressure is going to become immense on these firms to cut these costs.”

Exactly why they shouldn’t be on the public dole. The appropriate punishment for a company that ceases to be economically viabe because of flying their executives around on jets is bankruptcy. That’s how a properly functioning market corrects poor budget management.  Conveniently this is also something that Bush, Obama and Congress are trying desperately to prevent. 

So, we are treated to the spectacle of Reid, Pelosi, Frank, Obama, Bush, Clinton and the rest of Ali Baba’s thieves galavanting around Washington castigating presumably undemocratic behavior like flying around in jets or taking big executive salaries.  All of these things Congress also does, the only difference is they do it with your money instead of shareholder money.  Nevertheless, with the same mouths they presumably kiss their mothers, they walk into the Capitol and vote to continue to subsidize these overpaid fools with taxpayer money – and the media and public eat it up like 12 year olds in a chocolate factory.

Government can’t (and shouldn’t) run private business.  All of this yakking about cleaning up Wall Street is a sham.  Examples:

Government demanding executives get rid of corporate jets – thereby severely reducing the effectiveness of their executive leadership teams. Notice also that nobody has asked the President to give up Air Force One, or Pelosi to give up Pelosi One. When government manages its budget poorly, guess what it does? If you said “Takes more money from my paycheck and runs up the National Debt,” treat yourself to a cookie. That’s not how it works in the private sector.  Companies fail.  Or at least, that’s not how it used to work in the private sector.

Government demanding executive pay cuts – thereby severely reducing the ability for companies “on the public dole” to competitively recruit talented leadership. You may not like executive salaries but you will be singing a different tune when the best talent in this country is working for companies overseas – or companies not “on the public dole” (AKA “too big to fail”).  There’s no question that some exectuives have suspiciously high salaries but these are issues for shareholders not taxpayers.

Government pandering to unions allowing American workers to remain employed at artificially high wages with correspondingly low production. You want to know why the American auto industry is in the tank? The answer is simple: unions. A taxpayer bailout of the industry is merely forestalling the inevitable failure of companies who can no longer compete in a global economy thanks to the culture of handout and privilege created by the automobile unions. The American auto industry should fail. Hell, it must fail. Bush and Congress are just cutting checks to highly influental (read: rich) constituents.   Meanwhile, the AP and the rest of the news media are wagging their fingers at Wall Street.  Well, what do you think the fat cats in the news industry fly around on?  Magic carpets?