Millionaires begging government for money

With economic troubles, the three biggest auto-companies in the US have had their executives begging for the government to bail them out.

The more ironic, questionable issues are the salaries of the CEOs of Ford, General Motors, and Chrysler. The US government “questioned their use of private jets while at the same time seeking government handouts”. An ABC News investigation revealed that the top three automakers have together spent several hundred million dollars to buy, maintain, and operate a fleet of top-of-the-line private jets for their top executives. To watch a video news story, click here.

Justifiably, politicians are skeptical of their plea to be bailed out, as the leaders of the company continue to live what seems to be a plentiful lifestyle. On December 5th, Detroit's Big Three automakers returned to Capitol Hill to make another attempt at getting $34 billion dollars of American taxpayer's money.

Newspapers also report that while American automakers plead for emergency loans, China's still-young car manufacturers are also appealing for their government's help during a sales slump.

At a United Nations General Assembly on November 12, 2008, speaking to over 70 heads of State and high-level officials at the “Culture of Peace” gathering, Miguel D’Escoto said that the world must choose between the values of consumerism and greed, or social responsibility and ethical behaviour, including the economic and political spheres.

D’Escoto mentioned the need to improve international cooperation in tax matters (billions of dollars that could be used for development are lost every year, because individuals and corporations fail to pay their taxes). He also called on the Doha meeting to take steps in the effort to combat corruption, promote the rule of law, human rights, inclusive democracy and good governance.