Barney Frank is a symbol of all that is wrong with the far far left. What an idiot.
I sure hope we all realize that judicious use of private planes by CEO’s of large companies makes a TON of sense. From the safety/security standpoint for certain. It’s also not in the best interest of a large corporation to have their CEO wasting time in airports when his time is worth thousands of dollars per hour.
Add to that the fact that it’s not the government’s job to run the day to day activities of any company.
Once again, Barney is playing to wealth envy.
Article below:
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By Silla Brush
If House Financial Services Committee Chairman Barney Frank (D-Mass) has his way, companies with corporate jets will not receive any future bailout money.
President-elect Obama has asked President Bush to seek the remaining $350 billion before he takes office. Meanwhile, Frank introduced legislation with a wide range of restrictions on how the rest of the funds from the Troubled Asset Relief Program (TARP) may be spent.
One provision in Frank’s legislation specifically prohibits companies that own, lease, or hold an ownership stake in private planes from receiving money, unless they can show the Treasury secretary that they are in the process of getting rid of their access to the planes.
The restriction on corporate jets would apply as long as the company receives federal money under the bailout package.
Lawmakers scolded the heads of the Detroit automakers for traveling to Washington aboard their corporate jets as they sought billions of dollars in taxpayer assistance.