For years the Republicans have told Americans how well self-regulation works. The theory was that business would always do the right thing to help promote business and profits. It didn't work out that way, of course. For normal people the recession is abundantly clear. People are worried about their jobs, their retirement, their friends and family because we all know someone who has been impacted by the recession. Because of this awareness, people are more cautious with spending which of course has impacted the economy as well. Unless you live in a cave it's difficult to miss the seriousness of the recession. Unless you are a banking executive who was bailed out by those same taxpayers who are concerned about the recession.
This is inexcusable yet again, it highlights why it's important for Treasury and Congress to take a hard line against this bunch of gamblers. They never know when to say when. Is this what the American public deserves after saving them from ruin?Reuters:
Flight records showed many occasions when banks receiving federal money flew their planes to destinations near resorts or executives' vacation homes in Europe, Mexico, the Caribbean, south Florida and Aspen, according to the paper.If they want to act like spoiled children, treat them like spoiled children.
"We are implementing a new policy in 2009, under which personal use of aircraft will not be permitted," a Bank of America spokesman told the paper, but declined to comment on specific trips.
In some cases, it was clear that bank executives were traveling for personal reasons; for other flights, many of which were over weekends or holidays, the passengers and purpose couldn't be established, the paper added.
