As I posted earlier today, the Associated Press is running a series on the big bank bailout and so far has found that CEOs and execs of failing banks were rewarded with large bonuses last year and also that it’s impossible for the average taxpayer to track what the banks are doing with their taxpayer.
Last week, Chrysler got a piece of the $17.5 bailout to the auto industry. A casual reading of today’s Wall St. Journal reveals where at least $160,287.55 of it went.
On his blog, Mark Cuban writes:
Lets see, is there anything more idiotic than spending more than 100k dollars on a full page ad “thanks for letting me waste your money” ad? Does it make it worse that its a business publication where the readers might just recognize the stupidity of wasting money on ad dollars that doesn’t even try to sell the product? How does it make the next unemployed Chrysler worker feel that their entire year’s salary just went for a single, ridiculous ad?
About the blogger
Bob Collins has been with Minnesota Public Radio since 1992, emigrating to Minnesota from Massachusetts. He was senior editor of news in the ’90s, ran MPR’s political unit, created the MPR News regional website, invented the popular Select A Candidate, started the two most popular blogs in the history of MPR and every day laments that his Minnesota Fantasy Legislature project never caught on.
NewsCut is a blog featuring observations about the news. It provides a forum for an online discussion and debate about events that might not typically make the front page. NewsCut posts are not news stories but reflections , observations, and debate.