Wednesday, October 08, 2008

Isn't that the Point?

Read an article that lawmakers were angry after they learned that AIG execs went on a retreat after the Government provided $85 billion dollars to prevent the company from collapsing. Sure the company shouldn't waste money, but they also need to spend money to help Main Street. Congress telling financial companies that they shouldn't spend money is counterproductive. Maybe I'm mistaken, but I never thought of flight attendants, masseuses, porters, gate attendants, desk help, housekeepers, groundskeepers, etc. as rich. This money went to support the existence of their jobs. If financial companies don't spend money on retreats then all you are doing is hurting the people that rely on this discretionary spending, further hurting the economy. They had these events before the financial turmoil they should have them afterwards to support the people who provide those services. Discouraging this type of expenditures also hurts the Civil Engineering profession through less tax revenue for transportation projects (airports and roads). Way to go Congress for looking out for the little guy again.

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