Commentary

Drama Highlights Auto Execs Testimony

It was the House version of “Car Talk” yesterday, according to the Washington Post, as members, both Republican and Democrat, swapped stories about their GM and Ford vehicles. This was disclosed in a article entitled “Auto Execs Fly Corporate Jets to D.C., Tin Cups in Hand.” The camera-loving representatives also had a field day with the bigwigs from the Detroit auto industry spending tens, if not hundreds of thousands of dollars on travel expenses to beg for a financial bailout.

Here is a great excerpt from the article that quotes some our fine legislators reminiscing about their American-made automobiles:

…Members of the committee wanted to turn the session into a special edition of “Car Talk.” Rep. Mike Castle (R-Del.) spoke of his ‘99 Jeep: “It probably has about 150,000 miles on it, and it’s still running doggone well.” Rep. Jeb Hensarling (R-Tex.) invoked his ‘98 Jeep Cherokee: “Small problem with the back hatch staying open; we can talk about that afterwards.” Rep. Michelle Bachmann (R-Minn.) praised her Chrysler minivan. Rep. Judy Biggert (R-Ill.) had good words for her Jeep but complained that it didn’t come in a hybrid version.

“I drive the same ‘66 Plymouth Valiant that I’ve always had,” Ackerman proffered. He went on to discuss a problem with the GPS system in his Cadillac. “I wanted a loaded car in blue; I had to reach out to five states to find one in blue,” he complained.

Is this what’s supposed to pass for competent inquiry? Our lawmakers were determined to focus on their personal stories and the fact that the three well-dressed idiots from Detroit who have run their businesses into the ground flew corporate jets to plead for a financial bailout from the taxpayers.

To be fair to House members, they did berate the chiefs from the big three auto makers for making low-quality gas guzzling SUVs instead of well-made fuel efficient cars like their Japanese and German rivals.

At the close of hearings yesterday, the CEOs of G.M., Ford and Chrysler went home in their private jets with only their multimillion dollar pay packages to comfort them – no bailout funds were promised.

It is a little sad to see extremely wealthy white men in thousand dollar suits begging for aid – a little moisture was building up in my left eye as I read about their testimony. But what is really, really sad is the grand standing of our lawmakers. They, especially those on the Democratic side of the aisle, helped shield the big three automakers from taking the painful steps necessary to become competitive producers of fuel efficient cars.

These hearings were a waste of time. This was all theater, just like the public show of anger toward millionaire executives from America’s now disgraced investment banks. Lawmakers, especially of the Republican stripe, sat idly by as American financial firms ran wild, making the reckless loans that are now crippling the stock market and the economy.

I say: “No more hearings!” The Republican and Democratic members of both the House and Senate are just looking for targets for their anxious fingers of blame. Yes, these executives are exceedingly culpable, but they did not act alone. The auto and finance industries shoveled millions to lobby for the status quo. Our elected representatives took every penny with a smile, helping sow the seeds of the Wall Street crisis and the global economic meltdown. It is time for real solutions – drama should be relegated to courtroom TV, not the legislative chambers in Washington D.C.

While you’re here, sign up for my feed so you can get some of the best in original political cartoons and commentary.

© 2008 Splendid Marbles.