Sunroom Desk

AIG, Fannie Mae, Freddie Mac, and Citigroup have gotten hundreds of billions from taxpayers because the country needs these companies to keep the engine of our economy going. They are supposed to provide funds that will help individuals and businesses attain financial security, profits and wealth.

That is what those companies were supposed to be doing all along. Instead, American taxpayers are now rescuing them from huge investment losses and unmanageable debt.

The big three automakers are requesting a relatively modest $34 billion from American taxpayers to build new engines and keep one in ten U.S. workers employed. They have been building and continue to manufacture physical products. Many critics have questioned the quality of their products and the wisdom of continuing to design large, gas-guzzling vehicles while waiting for the next oil crisis to hit.

Help them out!

The auto makers haven’t failed this country to nearly the extent that our financial companies have. If everyone from politicians to CEOs to mortgage brokers to consumers bears some responsibility for the irrational financial bubble and subsequent bust, the same argument can be made in defense of automakers. They’ve made what the market will buy. Unfortunately, they have to tool large factories and employ thousands of workers to do it, and they can’t change their production plans in a week or two.

All along, financial companies were taking unreasonable risks that led to a cliff dive in October. All along, automakers have been building cars – solid physical products that didn’t disappear in a few weeks like $4 trillion dollars in retirement wealth did.

Why are auto company CEOs grilled by Congress while AIG, Fannie Mae, Freddie Mac, and Citigroup executives continue to hold their jobs and receive bonuses or “cash awards”?